Simon Property Group (NYSE:SPG) Posts Earnings Results

Simon Property Group (NYSE:SPG) announced its quarterly earnings results on Thursday. The real estate investment trust reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $1.68, Zacks reports. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Simon Property Group had a return on equity of 89.32% and a net margin of 66.56%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.22 earnings per share. Simon Property Group updated its FY 2026 guidance to 13.300-13.400 EPS.

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

• Third-quarter real estate FFO increased 4.7% per share year over year, while domestic property NOI rose 6.6%. Simon raised 2026 real estate FFO guidance by $0.10 to $13.30–$13.40 per share, implying about 5% growth at the midpoint.
• Leasing remained strong: Simon signed nearly 1,200 leases in the quarter, with year-to-date new-deal rents up 17% and tenant allowances per square foot down 10%. Malls and Premium Outlets occupancy reached 96.5%, tying the company’s highest combined level since 2016.
• Retailer sales and traffic showed broad-based momentum: comparable sales grew 4.9% in the quarter, total sales volume increased 6.8%, and October traffic was in line with third-quarter growth. Management said the leasing pipeline was up 30% year over year.
• Simon reported $1.2 billion of development projects underway at a blended yield of 9% and said the University Village acquisition is expected to be modestly accretive next year and NAV-accretive at closing. Management also highlighted continued redevelopment opportunities and plans to break ground on its Sagefield project.
• Management expects higher interest expense to remain a meaningful headwind, estimating roughly $0.30 per share of pressure next year. It noted that interest-rate conditions remain volatile, though the company cited about $9 billion in liquidity and net debt to EBITDA below 5x.

Simon Property Group Stock Performance

SPG traded down $1.50 during midday trading on Thursday, reaching $227.00. The company’s stock had a trading volume of 2,008,903 shares, compared to its average volume of 1,332,748. The stock has a market cap of $73.45 billion, a P/E ratio of 17.35, a PEG ratio of 3.52 and a beta of 1.27. The company has a fifty day simple moving average of $207.69 and a 200 day simple moving average of $206.54. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 5.19. Simon Property Group has a twelve month low of $177.88 and a twelve month high of $238.50.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, September 9th. This represents a $9.00 annualized dividend and a yield of 4.0%. Simon Property Group’s dividend payout ratio is presently 63.47%.

Insider Buying and Selling

In other Simon Property Group news, Director Daniel Smith purchased 350 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was bought at an average cost of $202.78 per share, for a total transaction of $70,973.00. Following the completion of the acquisition, the director directly owned 34,830 shares in the company, valued at $7,062,827.40. This represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Marta Stewart acquired 199 shares of Simon Property Group stock in a transaction dated Wednesday, September 30th. The stock was acquired at an average cost of $202.78 per share, with a total value of $40,353.22. Following the completion of the transaction, the director directly owned 18,199 shares of the company’s stock, valued at $3,690,393.22. This trade represents a 1.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 1,668 shares of company stock worth $338,237. 8.73% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Simon Property Group from $231.00 to $223.00 and set a “neutral” rating for the company in a report on Thursday, September 10th. Citigroup upped their target price on Simon Property Group from $205.00 to $230.00 and gave the stock a “neutral” rating in a research report on Monday, August 17th. Mizuho upped their price objective on shares of Simon Property Group from $211.00 to $226.00 and gave the stock a “neutral” rating in a report on Thursday, August 27th. Truist Financial began coverage on shares of Simon Property Group in a research note on Friday, October 2nd. They issued a “hold” rating and a $215.00 target price on the stock. Finally, BNP Paribas Exane began coverage on shares of Simon Property Group in a report on Friday, October 9th. They issued a “neutral” rating and a $222.00 target price on the stock. Nine analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $228.67.

Simon Property Group News Roundup

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

• Positive Sentiment: Simon raised its 2026 real-estate FFO guidance to $13.30–$13.40 per share, above the prior consensus cited in the reports, and increased its quarterly dividend. Simon Q3 results, guidance and dividend announcement
• Positive Sentiment: Revenue was $1.81 billion, ahead of the $1.63 billion estimate cited in the earnings report and up 13.3% year over year, signaling continued operating growth. Simon Property Group Q3 earnings report
• Neutral Sentiment: FFO estimates differ across reports: Zacks said FFO of $3.37 per share topped its $3.32 consensus, while a MarketScreener flash cited $3.09 versus FactSet’s $3.31 estimate. That discrepancy makes the quarter’s FFO performance less uniformly positive. Zacks Q3 FFO report
• Neutral Sentiment: Simon refinanced Colorado Mills mall with a $93 million loan. The transaction provides financing for the property, but the report offered no clear indication of a material near-term earnings impact. Colorado Mills refinancing report

About Simon Property Group

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops, and operates premier shopping, dining, entertainment, and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers, and other retail properties designed to serve both local shoppers and visitors.

The company’s properties feature a broad mix of retailers, restaurants, entertainment venues, and experiential offerings. Simon also provides property management, leasing, development, redevelopment, and marketing services associated with its real estate portfolio.

Simon Property Group was formed in 1993 through the combination of the retail real estate interests of the Simon and DeBartolo families.