Simon Property Group (SPG), a leading global retail real estate investment trust (REIT), recently posted solid financials for the fourth quarter of 2016. Revenues increased 3.3% y-o-y to $1.43 bn and came in slightly ahead of consensus estimate. For the US Malls and Premium Outlets portfolio, occupancy rose 70 basis points y-o-y to 96.8%. Base minimum rent per square feet climbed 5.4% to $51.59, while leasing spread for the trailing 12-months grew 12.7% to $8.82. Adjusted funds from operations (FFO) per share improved 6.6% to $2.91 beating analysts’ average projection of $2.51. For full year 2016, the company reported adjusted FFO per share of $10.87 (growth of 9% y-o-y) on revenues $5.44 bn (up 3.2%). Simon Property’s management also provided FFO per share guidance for 2017 and expects it to be within the range of $11.45-11.55.In Q4, Simon Property repurchased 1.4 mn shares for $255 mn. Besides, the company raised its quarterly dividend by 6.1% to $1.75, which offers a healthy annualized dividend yield of 3.8%.During the reported quarter, Simon Property opened two significant new development projects: Clarksburg Premium Outlets, in Clarksburg, Maryland, a 392,000 square foot center with more than 85 retailers featuring high-quality designer and name brands, and the 500,000 square foot retail component to Brickell City Centre in Miami, Florida. Besides, construction continued on six other new development projects scheduled to open in 2017. Overall, at quarter-end, Simon Property had redevelopment and expansion projects in progress at 29 properties across the US, Canada and Europe.I believe that gradually recovering US economy and improvement in the spending power of the customers will continue to support the company’s financials going forward. I also expect that resident Donald Trump's plans to expedite economic growth will overcome the impact of rising interest rates.Simon Property’s shares are trading above $180 support level as well as 50-day moving average. I believe the stock is well positioned for a rebound, with medium-term target at $220. $SPG, Simon Property Group, Inc. / D