REIT firm Simon Q3 net income rises 28% on increased occupancy rates, raises dividend by 4.8%

Simon Property

03/11/2025 21:20

Overview

Simon Q3 net income rises to $606.2 mln from $475.2 mln yr/yr

Real Estate FFO per share increases 5.6% yr/yr to $3.22

Company raises dividend by 4.8% to $2.20 per share

Outlook

Company raises full-year 2025 Real Estate FFO guidance to $12.60-$12.70 per share

Result Drivers

OCCUPANCY GAINS - Simon reports increased occupancy rates, contributing to improved financial results

RETAILER SALES - Accelerated retailer sales boost Simon's cash flow and operational performance

TAUBMAN ACQUISITION - Completion of Taubman Realty Group acquisition enhances Simon's operational capabilities

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
$1.60 bln
Q3 EPS
$1.86
Q3 Net Income
$702.69 mln
Q3 Dividend
$2.20


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 13 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial reits peer group is "buy"

Wall Street's median 12-month price target for Simon Property Group Inc is $188.00, about 6.5% above its October 31 closing price of $175.76

The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 24 three months ago

Press Release: ID:nPn8NvlXMa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)