Simon Property Group’s revenue tanks 24% due to COVID-19

Simon Property Group (NYSE: SPG) published its quarterly financial results on Monday after the bell. The company said that its revenue in the fiscal second quarter came in 24% lower on a year over year basis. It attributed its dovish performance to the Coronavirus pandemic that pushed several retailers into temporarily shutting down stores in recent months that resulted in unpaid rent dues. COVID-19 has so far infected more than 5 million people in the United States and caused over 166,000 deaths. Shares of the company tanked more than 1% in after-hours trading on Monday. At £49.50 per share, Simon