Simon Property Group (NYSE:SPG) Releases Quarterly Earnings Results, Beats Estimates By $1.65 EPS

Simon Property Group (NYSE:SPG) issued its earnings results on Monday. The real estate investment trust reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $1.65, Zacks reports. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 earnings per share. Simon Property Group updated its FY 2026 guidance to 13.200-13.300 EPS.

Here are the key takeaways from Simon Property Group’s conference call:

• Positive Sentiment: Second-quarter domestic property NOI rose 8.5% and real estate FFO per share increased 7.9% year over year to $3.29, prompting the company to raise full-year 2026 FFO guidance to $13.20–$13.30 per share.
• Positive Sentiment: Leasing demand remained strong: Simon signed more than 1,200 leases covering 4.8 million square feet, with new-leasing rents up 17% and tenant allowances down 12% year to date. Occupancy held at 96% despite absorbing roughly 1 million square feet returned through Saks OFF 5TH’s bankruptcy.
• Positive Sentiment: Replacing Saks OFF 5TH locations is expected to substantially improve economics, with signed replacement leases for about half the space already generating more than $18 million in former annual rent versus approximately $44 million when fully leased; most of the benefit is expected in 2027.
• Positive Sentiment: Retailer sales and traffic accelerated, with comparable sales up 5.7% in the quarter, total sales volume up 7.6%, and July traffic up 3.6%. Management said strength was broad-based across malls, outlets, luxury, emerging brands, and younger-consumer categories.
• Negative Sentiment: Higher interest expense and lower interest income reduced year-over-year FFO by $0.06 per share, while roughly $4.5 billion of unsecured debt matures in the second half of 2027. Management expects to refinance successfully but acknowledged continued exposure to elevated interest rates.

Simon Property Group Stock Down 1.3%

Simon Property Group stock traded down $2.81 during midday trading on Monday, hitting $220.10. 1,244,387 shares of the stock were exchanged, compared to its average volume of 1,733,346. Simon Property Group has a 1 year low of $163.29 and a 1 year high of $238.50. The company has a debt-to-equity ratio of 4.68, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $71.38 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.88 and a beta of 1.30. The company has a 50 day moving average price of $221.15 and a two-hundred day moving average price of $205.09.

Trending Headlines about Simon Property Group

Here are the key news stories impacting Simon Property Group this week:

• Positive Sentiment: Simon reported second-quarter 2026 revenue of approximately $1.8 billion, up 19.5% year over year and ahead of expectations. Gross profit increased 21.1% to $1.5 billion, while operating profit rose 10.7% to $824.1 million, signaling continued strength across its premier malls and mixed-use properties. Simon Reports Second Quarter 2026 Results and Increases Guidance
• Positive Sentiment: The REIT increased its full-year 2026 real estate FFO-per-share guidance to $13.20-$13.30. The outlook implies continued operating momentum, although the midpoint is only slightly above the existing consensus estimate of $13.21. Simon Q2 2026 Results and Guidance
• Neutral Sentiment: Reported EPS figures vary across coverage, likely reflecting differences between GAAP earnings and adjusted real estate FFO. One data provider cited EPS of $3.29 versus a $1.64 consensus, while other coverage reported diluted EPS of $0.29 versus a $1.69 estimate. Investors are likely focusing more heavily on recurring FFO, the key REIT performance measure, than on the conflicting headline EPS numbers. Simon Property Q2 Earnings Snapshot
• Neutral Sentiment: Institutional positioning was mixed: 648 investors increased their holdings in the latest quarter, compared with 535 that reduced positions. Recent analyst targets have a median of $215, close to the reported trading level, suggesting limited near-term upside based on current estimates.
• Negative Sentiment: Net income attributable to common shareholders reportedly fell 89.6% year over year to $57.8 million, and cash declined 17.2% to $1.0 billion while total liabilities increased 12.1% to $33.9 billion. The weak bottom-line comparison and leverage concerns may be offsetting the revenue beat and weighing on SPG.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock bought 397 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought at an average cost of $223.38 per share, for a total transaction of $88,681.86. Following the completion of the purchase, the director directly owned 45,902 shares of the company’s stock, valued at approximately $10,253,588.76. The trade was a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Glyn Aeppel bought 243 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $223.36 per share, for a total transaction of $54,276.48. Following the completion of the transaction, the director owned 21,067 shares of the company’s stock, valued at approximately $4,705,525.12. The trade was a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 2,387 shares of company stock worth $533,056 over the last quarter. Company insiders own 8.73% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently made changes to their positions in SPG. Stance Capital LLC acquired a new stake in shares of Simon Property Group during the third quarter worth approximately $26,000. Wilkerson Advisory Group LLC acquired a new stake in Simon Property Group in the fourth quarter valued at $29,000. Sfam LLC bought a new position in Simon Property Group during the 4th quarter valued at $57,000. Quarry LP boosted its stake in Simon Property Group by 109.5% during the 4th quarter. Quarry LP now owns 308 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 161 shares during the last quarter. Finally, Fairscale Capital LLC grew its holdings in Simon Property Group by 194.5% during the 4th quarter. Fairscale Capital LLC now owns 324 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 214 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a research note on Thursday, July 9th. Scotiabank upped their price target on shares of Simon Property Group from $206.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 18th. Evercore set a $215.00 price target on Simon Property Group in a report on Tuesday, July 7th. Piper Sandler raised their price objective on Simon Property Group from $230.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Finally, Stifel Nicolaus boosted their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $216.14.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.