Simon Property Q2 Real Estate FFO per share rises on leasing demand
SPG•Outlook
- Simon Property raises 2026 Real Estate FFO per share outlook to $13.20-$13.30.
- Company sees 2026 net income per share between $6.47 and $7.47.
Overview
- U.S. retail REIT's Q2 Real Estate FFO per share rose 7.9% yr/yr.
- Net income per share declined from prior year, which included a non-cash after-tax gain.
Key details:
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $1.79 bln | ||
| Q2 EPS | $1.49 | ||
| Q2 Consolidated Net Income | $574.13 mln |
Result drivers
- Leasing demand — Co said consistent broad-based leasing demand supported Q2 results.
- Retailer sales — Co reported retailer sales per square foot rose 13.9% yr/yr, contributing to performance.
- Rent growth — Base minimum rent per square foot increased 6.3% yr/yr, aiding revenue.
