Simon Property Group (NYSE:SPG) Posts Earnings Results, Beats Estimates By $1.68 EPS

Simon Property Group (NYSE:SPG) announced its quarterly earnings data on Thursday. The real estate investment trust reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $1.68, Zacks reports. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the prior year, the business earned $3.22 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. 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 Price Performance

Shares of NYSE:SPG traded down $1.50 during midday trading on Thursday, reaching $227.00. 2,008,903 shares of the company’s stock were exchanged, compared to its average volume of 1,332,748. The company has a debt-to-equity ratio of 5.19, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50 day simple moving average is $207.69 and its two-hundred day simple moving average is $206.54. Simon Property Group has a 12 month low of $177.88 and a 12 month high of $238.50. The firm has a market capitalization of $73.45 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.52 and a beta of 1.27.

Simon Property Group Announces Dividend

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

Insiders Place Their Bets

In other Simon Property Group news, Director Daniel C. Smith purchased 350 shares of the business’s stock in a transaction on Wednesday, September 30th. The stock was purchased at an average price of $202.78 per share, for a total transaction of $70,973.00. Following the completion of the purchase, the director directly owned 34,830 shares in the company, valued at approximately $7,062,827.40. This trade 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 available through this hyperlink. Also, Director Marta R. Stewart acquired 199 shares of the firm’s stock in a transaction on Wednesday, September 30th. The shares were bought at an average cost of $202.78 per share, for a total transaction of $40,353.22. Following the completion of the acquisition, the director directly owned 18,199 shares of the company’s stock, valued at approximately $3,690,393.22. This represents a 1.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 1,668 shares of company stock valued at $338,237 over the last 90 days. Company insiders own 8.73% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the topic of a number of recent research reports. Truist Financial started coverage on Simon Property Group in a research report on Friday, October 2nd. They set a “hold” rating and a $215.00 target price on the stock. BMO Capital Markets raised their price objective on Simon Property Group from $230.00 to $250.00 and gave the stock a “market perform” rating in a research report on Monday, August 17th. Argus raised their price objective on Simon Property Group from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Jefferies Financial Group decreased their price objective on Simon Property Group from $278.00 to $252.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Finally, UBS Group lowered their price objective on Simon Property Group from $222.00 to $205.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. Nine research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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

Simon Property Group Company Profile

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.