Simon Property Group (NYSE: SPG) told analysts it planned to open half of its shopping malls this week. Simon operates 234 properties in North America, Europe, and Asia. With 168 properties in the U.S., it is the country's largest mall operator. Last month, it was reported last month that Simon intended to begin reopening almost 50 malls the first week of May as states permitted. As of this week, 77 U.S. properties have become operational again. Image source: Getty Images. A matter of necessity CEO David Simon said, "we are now leading the effort for these local economies to get back to business while delivering a new elevated standard of safety for all." But the move to reopen may also be motivated by Simon's own financial fitness. While revenue was down less than 7% for the quarter, no doubt bolstered by what Simon said was a strong start to the year in January and February, the pandemic resulted in quarterly profits tumbling over 20% from last year. It might not improve, either, as retail tenants have resisted paying rents to mall owners. According to CenterSquare Investment Management, just 15% of April rents were paid and May is looking worse. Last month, Gap (NYSE: GPS) announced it was suspending the payment of rent to save $115 million a month. Gap is the largest inline retail tenant in Simon malls with 412 stores representing over 2% of total square footage and 3.5% of total base minimum rent. Other major Simon tenants have also gone on a rent strike, including Victoria's Secret owner L Brands; PVH, the owner of Calvin Klein; and Coach parent Tapestry. Opening the malls again is essential to getting tenants to begin paying their rent again. 10 stocks we like better than Simon Property GroupWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Simon Property Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of April 16, 2020 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tapestry. The Motley Fool has a disclosure policy.Source