I remain upbeat about the shares of Simon Property Group (SPG), a leading global retail real estate investment trusts (REIT). Recently, the company made an announcement of the impending arrival of French high-fashion retailer Hermes and French luxury house Cartier at its Stanford Shopping Center. This reflects Simon Property’s efforts to meet the requirements of the sophisticated clientele that visits the center. Hermes, which is slated to open in late 2017 or early 2018, will occupy a 6,000-square-foot area in the heart of the newly transformed center. Cartier will open this fall adjacent to Hermes. Notably, Stanford Shopping Center welcomed many top retailers during the summer of 2016.Simon Property’s financials for the second quarter of 2016 were decent. Revenues came in at $1.32 bn, flat y-o-y and almost in line with consensus estimate. For the US Malls and Premium Outlets portfolio, occupancy fell 20 basis points to 95.9%, while base minimum rent per square foot rose 4.9% to $50.43. Comparable funds from operations (FFO) rose 9.1% to $2.63 and surpassed analysts’ average projection by a penny. Concurrent with its earnings release, Simon Property declared a quarterly dividend of $1.65 per share, marking 6.5% y-o-y and 3.1% sequential increase. This offers a healthy annualized dividend yield of 3.1%.During the quarter, Simon Property began construction work on two new projects, the Norfolk Premium Outlets in Norfolk, Virginia, and Genting Highlands Premium Outlets in Kuala Lumpur, Malaysia. In June, Simon Property opened a 355,000 square foot outlet center in Columbus, Ohio. Also, the company is carrying out construction activities in six new development projects, two of which are slated to open in 2016 and the rest in 2017.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. To note, Simon Property raised its full-year 2016 FFO per share guidance and expects it to be in the range of $10.77-10.85 compared with the previous projection of $10.72-10.82.Shares of Simon Property are trading above $210 resistance level as well as an upward ternd line. The stock, I believe, is well positioned for a rebound, with medium-term target at $250. $SPG, Simon Property Group, Inc. / 1440