Simon tops Fortune's most-admired real estate companies list

Simon Property Group Voted "Most Admired Real Estate Company"


3/10/2011
By Carisa Chappell

Simon Property Group (NYE: SPG) regained the title of “Most Admired Real Estate Company” in Fortune magazine’s annual “World’s Most Admired Companies” survey.

Simon Property earned the same title in 2009. Other REITs listed among the most admired real estate companies included second-place Vornado Realty Trust (NYSE: VNO), fifth-place Equity Residential (NYSE: EQR) and seventh-place General Growth Properties (NYSE: GGP).

The annual “Most Admired Companies” survey, which is conducted by Fortune and the Hay Group, a global management consulting firm, seeks to identify companies that have strong corporate reputations within their industries. More than 15,000 top executives, directors and financial analysts were surveyed to help determine the award-winning companies.

The largest U.S. REIT, Simon Property owns or has interests in close to 400 real estate properties in North America, Europe and Asia.

“It’s nice to be the largest real estate company, but to be the most admired on a consistent basis is very gratifying,” said David Simon, Simon Property’s chairman and chief executive officer. “This is a tremendous honor, and it is the direct result of our employees operating at an extremely high level, regardless of the economic environment.”

To determine the awards, reputation and performance are measured against nine key attributes to rank the companies. The companies are assessed in terms of:

innovation

people management

use of corporate assets

social responsibility

quality of management

financial soundness

long-term investment

quality of products and services

global competitiveness

Weyerhaeuser Company (NYSE: WY), which converted to a REIT in 2010, also made Fortune’s list as the top forest and paper products company. In addition, Weyerhaeuser tied for 10th place among all companies in the social responsibility category.

“This distinction among our peers testifies to our commitment to responsible governance, reliable systems and a focus on long-term prosperity,” said Dan Fulton, Weyerhaeuser president and CEO.


REITs Among FORTUNE Magazine’s World’s Most Admired Real Estate Companies

Rank Company



1 Simon Property Group (NYSE: SPG)

2 Vornado Reatly Trust (NYSE: VNO)

5 Equity Residential (NYSE: EQR)

7 General Growth Properties (NYSE: GGP)

We did good!! TGIF!! :) ♥ V :)