Simon Property Group (NYSE:SPG) Announces Earnings Results

Simon Property Group (NYSE:SPG) released its quarterly earnings results on Monday. The real estate investment trust reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.02, Zacks reports. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $3.68 earnings per share. Simon Property Group’s revenue was up 13.2% compared to the same quarter last year. Simon Property Group updated its FY 2026 guidance to 13.000-13.250 EPS.

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

• Record real estate FFO of $4.8 billion (?$12.73/share) for the year and Q4 REFFO of $3.49/share (up 4.2% YoY); 2026 guidance is $13.00–$13.25 per share (midpoint $13.13) assuming at least 3% domestic NOI growth and higher interest expense.
• Leasing momentum remained strong with ~4,600 leases (~17M sq ft) in 2025 (1,300 leases / 4.4M sq ft in Q4), portfolio occupancy at 96.4% for malls/outlets and 99.2% for mills, average base rents +4.7% YoY and leasing pipeline up ~15% YoY; new-lease rents disclosed at ?$65/sq ft.
• Strategic investments and redevelopments—~$2 billion of acquisitions (including remaining Taubman interest and other high-quality assets), 20+ redevelopments completed, year-end development spend ?$1.5B with a blended yield of 9% and a pipeline >$4B; company expects roughly $30M of NOI from completed projects in 2026.
• Strong capital position and shareholder returns—returned ?$3.5B to shareholders in 2025 via dividends and buybacks, announced Q1 dividend of $2.20 (+4.8% YoY), liquidity >$9B and a net debt/EBITDA of 5.0x after ~$9B of financing activity last year.
• Management warned of tariff-related pressure on retailers driving heightened tenant credit risk and potential bankruptcies, and guided for $0.25–$0.30 higher net interest expense versus 2025, which could weigh on near-term FFO if retail headwinds intensify.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $191.19 on Tuesday. The business’s fifty day moving average price is $184.97 and its 200 day moving average price is $179.86. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $193.50. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 9.59. The stock has a market capitalization of $62.42 billion, a P/E ratio of 27.83, a PEG ratio of 7.10 and a beta of 1.39.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is 128.09%.

Insider Buying and Selling

In other news, Director Gary M. Rodkin acquired 226 shares of Simon Property Group stock in a transaction dated Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, with a total value of $42,036.00. Following the purchase, the director directly owned 19,455 shares of the company’s stock, valued at approximately $3,618,630. This trade represents a 1.18% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel purchased 216 shares of Simon Property Group stock in a transaction on Wednesday, December 31st. The shares were acquired at an average cost of $186.00 per share, for a total transaction of $40,176.00. Following the completion of the transaction, the director owned 19,481 shares of the company’s stock, valued at $3,623,466. This represents a 1.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 2,192 shares of company stock worth $407,712. Corporate insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the stock. Stance Capital LLC acquired a new stake in Simon Property Group in the third quarter valued at approximately $26,000. MUFG Securities EMEA plc purchased a new position in shares of Simon Property Group in the second quarter valued at $145,000. Triumph Capital Management acquired a new stake in Simon Property Group during the 3rd quarter valued at $194,000. Moneta Group Investment Advisors LLC acquired a new position in Simon Property Group in the 3rd quarter worth $200,000. Finally, NCM Capital Management LLC acquired a new stake in shares of Simon Property Group during the third quarter valued at about $212,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on SPG. Piper Sandler boosted their target price on shares of Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $179.00 to $184.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research report on Friday, January 16th. Truist Financial lifted their target price on shares of Simon Property Group from $169.00 to $181.00 and gave the stock a “hold” rating in a research note on Wednesday, December 17th. Finally, UBS Group increased their price target on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $194.64.

Trending Headlines about Simon Property Group

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

• Positive Sentiment: Company raised FY?2026 earnings guidance sharply (EPS/FFO guidance centered near ~$13.00+ vs. street much lower), signaling stronger-than-expected cash flow and boosting investor conviction in organic and redevelopment growth. Simon Property Group outlines $13.13 per share FFO guidance and $4B development pipeline while advancing leasing and redevelopment
• Positive Sentiment: Q4 results beat expectations: FFO of $3.49 topped consensus and revenue of $1.79B surpassed estimates, with revenue up ~13% YoY — supports the strong FY guide and suggests leasing/consumer demand remain healthy. Simon® Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Simon announced a quarterly dividend of $2.20/share (annualized yield ~4.6%; ex?dividend Mar 10), which supports income-oriented investors and underpins demand for the REIT shares.
• Positive Sentiment: Company outlined a ~$4B development/redevelopment pipeline and cited continued leasing progress — growth projects and re?tenancy help justify the higher earnings outlook. Simon Property Group Inc (SPG) Q4 2025 Earnings Call Highlights: Record FFO and Robust Leasing …
• Neutral Sentiment: Analyst and media coverage is largely positive/constructive (notes the company is “boring but beautiful”), which can support sentiment but does not change fundamentals by itself. Boring but beautiful — This real estate stock reporting Monday has room to run, says Jay Woods
• Neutral Sentiment: Third?party writeups (Zacks, MarketBeat) provide deeper metric analysis — useful for modeling but they mainly reiterate results and guidance rather than introduce new catalysts. Simon Property (SPG) Reports Q4 Earnings: What Key Metrics Have to Say
• Negative Sentiment: FFO is slightly down YoY (from $3.68 to $3.49), pointing to near?term volatility in results despite beats; investors should watch whether the company sustains the improved FY outlook. Simon Property (SPG) Q4 FFO and Revenues Surpass Estimates
• Negative Sentiment: Leverage remains high for a REIT (debt/equity ~9.6 per background data), which increases sensitivity to interest rates and could limit upside if rates rise or retail headwinds reappear.

Simon Property Group Company Profile

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.