Earnings summaries and quarterly performance for SIMON PROPERTY GROUP.
Executive leadership at SIMON PROPERTY GROUP.
David Simon
Detailed
Chairman, Chief Executive Officer and President
CEO
AJ
Adam J. Reuille
Detailed
Senior Vice President and Chief Accounting Officer
BJ
Brian J. McDade
Detailed
Executive Vice President and Chief Financial Officer
ES
Eli Simon
Detailed
Executive Vice President – Chief Investment Officer
JR
John Rulli
Detailed
Chief Administrative Officer
SE
Steven E. Fivel
Detailed
General Counsel and Secretary
Board of directors at SIMON PROPERTY GROUP.
DC
Daniel C. Smith, Ph.D.
Detailed
Director
GM
Gary M. Rodkin
Detailed
Director
GF
Glyn F. Aeppel
Detailed
Director
LC
Larry C. Glasscock
Detailed
Lead Independent Director
MR
Marta R. Stewart
Detailed
Director
NP
Nina P. Jones
Detailed
Director
PF
Peggy Fang Roe
Detailed
Director
RJ
Randall J. Lewis
Detailed
Director
RS
Reuben S. Leibowitz
Detailed
Director
RS
Richard S. Sokolov
Detailed
Vice Chairman
SM
Stefan M. Selig
Detailed
Director
Research analysts who have asked questions during SIMON PROPERTY GROUP earnings calls.
Alexander Goldfarb
Piper Sandler
7 questions for SPG
Also covers: ALEX, ALX, AVB +25 more
Michael Goldsmith
UBS
7 questions for SPG
Also covers: ADC, AHR, AMH +33 more
RK
Ronald Kamdem
Morgan Stanley
7 questions for SPG
Also covers: AAT, ADC, AHR +37 more
Vince Tibone
Green Street
7 questions for SPG
Also covers: CBL, COLD, EGP +7 more
Craig Mailman
Citigroup
6 questions for SPG
Also covers: AKR, BRX, COLD +15 more
Linda Tsai
Jefferies
6 questions for SPG
Also covers: ADC, AKR, AMH +31 more
CB
Caitlin Burrows
Goldman Sachs
5 questions for SPG
Also covers: ALX, BNL, BRX +19 more
Greg McGinniss
Scotiabank
5 questions for SPG
Also covers: BRX, COLD, EPRT +14 more
HS
Haendel St. Juste
Mizuho Financial Group
5 questions for SPG
Also covers: AAT, ADC, AIV +21 more
MM
Michael Mueller
JPMorgan Chase & Co.
5 questions for SPG
Also covers: AKR, BRX, CBL +26 more
OO
Omotayo Okusanya
Deutsche Bank AG
5 questions for SPG
Also covers: AMH, ARE, BDN +40 more
Floris van Dijkum
Compass Point Research & Trading
4 questions for SPG
Also covers: AKR, ALX, APLE +19 more
Jeffrey Spector
BofA Securities
4 questions for SPG
Also covers: AKR, AMH, AVB +25 more
Juan Sanabria
BMO Capital Markets
4 questions for SPG
Also covers: AMH, BRX, CTRE +20 more
Floris Gerbrand van Dijkum
Compass Point Research & Trading, LLC
3 questions for SPG
Also covers: AKR, ALX, APLE +14 more
Samir Khanal
Bank of America
3 questions for SPG
Also covers: BRX, COLD, CUBE +16 more
Steve Sakwa
Evercore ISI
3 questions for SPG
Also covers: ALX, AMH, AVB +31 more
CS
Caitlin Szczupak
Goldman Sachs
2 questions for SPG
Also covers: KRC, PSA
HZ
Hong Zhang
JPMorgan Chase & Co.
2 questions for SPG
Also covers: BRX, CUBE, EXR +4 more
MC
Michael Corkery
Evercore ISI
2 questions for SPG
Michael Griffin
Citigroup Inc.
2 questions for SPG
Also covers: AHR, ALX, ARE +33 more
Rich Hightower
Barclays
2 questions for SPG
Also covers: ADC, AMH, AVB +19 more
KB
Ki Bin Kim
Truist Securities
1 question for SPG
Also covers: ADC, AKR, BNL +20 more
LY
Linda Yu Tsai
Jefferies Financial Group Inc.
1 question for SPG
Also covers: ADC, AKR, BRX +11 more
Nicholas Joseph
Citigroup
1 question for SPG
Also covers: AMH, ARE, CUBE +13 more
RV
Ravi Vaidya
Mizuho
1 question for SPG
Also covers: AAT, CUBE, EXR +9 more
Recent press releases and 8-K filings for SPG.
Simon Property Group reports Q4 2025 results
SPG
Earnings
Guidance Update
Dividends
- Real estate FFO was $3.49 per share, up 4.2% year-over-year from $3.35.
- Portfolio NOI grew 5.1% in Q4 2025 (domestic NOI +4.8%) with occupancy at 96.4% for malls/premium outlets and 99.2% for The Mills.
- Declared a $2.20 per share dividend for Q1 2026 (up 4.8% YoY) and repurchased 1.2 million shares ($227 million) in 2025 plus 273,000 shares ($50 million) post-year-end.
- 2026 guidance: real estate FFO of $13.00–$13.25 per share (midpoint $13.13), assuming ≥3% domestic NOI growth and $0.25–$0.30 higher net interest expense per share.
- Acquisitions and development: 2025 net development costs of $1.5 billion at a 9% blended yield with a pipeline exceeding $4 billion; notable deals include The Mall (Italy), Brickell City Centre, and remaining 12% of Taubman.
1 day ago
Simon Property Group reports Q4 2025 results
SPG
Earnings
Guidance Update
Dividends
- In Q4 2025, Simon reported net income attributable to common stockholders of $3.048 billion, or $9.35 per diluted share, versus $667.2 million, or $2.04 per diluted share in Q4 2024.
- Real Estate FFO was $1.328 billion, or $3.49 per diluted share, a 4.2% increase over Q4 2024.
- Domestic property NOI increased 4.8% and portfolio NOI rose 5.1% year-over-year.
- For FY 2026, Simon forecasts net income of $6.87–$7.12 per diluted share and Real Estate FFO of $13.00–$13.25 per diluted share.
- Simon ended 2025 with $9.1 billion of liquidity and declared a Q1 2026 dividend of $2.20 per share, up 4.8% year-over-year.
1 day ago
Simon Property Group reports Q4 2025 results
SPG
Earnings
Dividends
Guidance Update
- Record full-year FFO of $4.8 billion ($12.73/share) and Q4 FFO of $3.49 per share, up 4.2% YoY; portfolio NOI grew 5.1% in Q4 (domestic +4.8%) with mall/outlet occupancy at 96.4%.
- Acquired $2 billion of high-quality retail assets (including Italian outlets, Brickell City Centre interest and TRG stake) and completed > 20 redevelopments; development pipeline exceeds $4 billion.
- Completed $9 billion of financing in 2025 (including $1.5 B senior notes at 1.77% and $7 B secured refinancings), ended year with $9 billion liquidity and net debt/EBITDA of 5.0x; returned ~$3.5 B to shareholders and declared Q1 dividend of $2.20 (up 4.8%).
- 2026 guidance: real estate FFO of $13.00–$13.25 per share (midpoint $13.13), assuming ≥ 3% domestic NOI growth and $0.25–$0.30 higher net interest expense per share.
1 day ago
Simon Property Group reports Q4 2025 results
SPG
Earnings
Guidance Update
New Projects/Investments
- Delivered record FY 2025 FFO of $4.8 billion ($12.73/share) and Q4 FFO of $3.49 per share, up 4.2% year-over-year.
- Achieved strong operating metrics with 96.4% occupancy at malls/premium outlets, 99.2% at mills, and same-currency NOI growth of 5.1% in Q4 (4.7% for the year).
- Expanded portfolio with $2 billion of acquisitions—including The Mall and remaining Taubman interest—signed 4,600 leases (17 million sq ft), and completed over 20 redevelopments in 2025.
- Returned approximately $3.5 billion to shareholders via buybacks/dividends and set Q1 2026 dividend at $2.20 per share, a 4.8% increase.
- Issued 2026 guidance of $13.00–$13.25 FFO per share, assuming at least 3% domestic NOI growth and higher net interest expense.
1 day ago
Simon Property reports Q4 2025 results
SPG
Earnings
Dividends
- Simon Property generated net income attributable to common stockholders of $3.048 billion (EPS $9.35), versus $667.2 million (EPS $2.04) in Q4 2024.
- Real Estate FFO for Q4 was $1.328 billion (FFO per share $3.49), up 4.2% year-over-year from $1.261 billion ($3.35 per share).
- For the full year 2025, the company achieved record Real Estate FFO of $4.812 billion (per share $12.73), a 4.0% increase over 2024.
- Domestic property NOI increased 4.8% and total portfolio NOI rose 5.1% compared to Q4 2024.
- The Board declared a Q1 2026 common dividend of $2.20 per share, a 4.8% increase year-over-year.
1 day ago
Simon Property Group reports Q4 and 2025 full-year results
SPG
Earnings
Dividends
Guidance Update
- Q4 net income of $3.048 billion ($9.35/diluted share), including a $2.89 billion non-cash gain from remeasurement of its Taubman Realty interest; Real Estate FFO was $1.328 billion ($3.49/share, +4.2% YoY).
- 2025 Real Estate FFO reached $4.812 billion ($12.73/share, +4.0% YoY), with net income of $4.624 billion ($14.17/share).
- U.S. mall occupancy at 96.4%, base minimum rent per square foot $60.97 (+4.7% YoY), and trailing-12-month retailer sales per square foot $799 (+8.1% YoY) as of December 31, 2025.
- Board declared Q1 2026 dividend of $2.20 (up 4.8% YoY) and issued guidance of $6.87–7.12 net income per diluted share and $13.00–13.25 Real Estate FFO per diluted share for 2026.
1 day ago
Simon Property Group sells $800 million of senior notes
SPG
Debt Issuance
- Simon Property Group’s operating partnership agreed to sell $800 million of 4.300% senior notes due 2031, expected to close on January 13, 2026.
- Proceeds will fully repay $800 million of outstanding 3.300% notes maturing in 2026.
- The offering is managed by BofA Securities, Deutsche Bank Securities, Goldman Sachs & Co. and RBC Capital Markets as joint book-running managers.
- Notes are being issued under the Operating Partnership’s shelf registration, with sales conducted via a prospectus supplement and accompanying prospectus.
Jan 6, 2026, 11:16 PM
Simon Property Group acquires Phillips Place in Charlotte
SPG
M&A
New Projects/Investments
- Simon Property Group has acquired Phillips Place, a 134,000 sq ft open-air retail center in SouthPark, Charlotte, North Carolina.
- Phillips Place features 25+ specialty shops and restaurants, including alice+olivia, Peter Millar, rag & bone, Ralph Lauren, Veronica Beard, RH Gallery with a Rooftop Restaurant, and The Palm.
- The property is part of an iconic mixed-use destination that also includes a 180+ room hotel and a multi-family residential component, both owned by Simon.
- Simon intends to continue delivering the center’s exceptional shopping experience and will enhance it over time through new offerings, merchandising, and ongoing investment.
Nov 18, 2025, 3:00 PM
Simon Property Group acquires remaining interest in Talbot Realty and reports Q3 2025 results
SPG
Earnings
M&A
Guidance Update
- Completed acquisition of remaining 12% interest in Talbot Realty Group for 5.06 million LP units at an overall cap rate >7.25%, adding 50 bps to going-in yield and consolidating the portfolio with a Q4 non-cash gain expected.
- Q3 real estate FFO of $3.22 per share, up 5.6% YoY; Domestic NOI +5.1% and Portfolio NOI +5.2% YoY; occupancy at 96.4% (malls/outlets) and 99.4% (mills).
- Executed 1,000+ leases (~4 million sq ft) with 30% new deals, driving 2.5% average rent growth and sequential acceleration in retail sales and shopper traffic.
- Maintained $9.5 billion liquidity; issued $1.5 billion U.S. senior notes at 4.8% coupon and closed $5.4 billion in secured loans at 5.38% avg. rate YTD.
- Raised full-year FY 2025 FFO guidance to $12.60–12.70 per share (vs. prior $12.45–12.65) and declared a $2.20 Q4 dividend, up 4.8% YoY.
Nov 3, 2025, 10:00 PM
Simon Property Group reports Q3 2025 results and completes TRG acquisition
SPG
Earnings
M&A
Guidance Update
- Completed the acquisition of the remaining 12% interest in Taubman Realty Group at a >7.25% cap rate, adding 50 bps to the overall yield through operational synergies and full consolidation benefits in 2027.
- Delivered Real Estate FFO of $3.22 per share (up 5.6% y/y) and funds from operations of $1.23 billion (or $3.25 per share); Malls & Premium Outlets occupancy rose to 96.4%, and the Mills to 99.4%, with retailer sales up over 4% and occupancy costs stable at 13%.
- Raised full-year 2025 Real Estate FFO guidance to $12.60–$12.70 per share, up from prior guidance of $12.45–$12.65.
- Announced a $2.20 per share fourth-quarter dividend (up 4.8% y/y), payable December 31, and ended Q3 with $9.5 billion of liquidity after issuing $1.5 billion of senior notes at a 4.8% coupon.
Nov 3, 2025, 10:00 PM
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