Simon Property Q1 Real Estate FFO per share rises; co lifts FY guidance

Simon Property

11/05/2026 21:15

Overview

U.S. retail REIT's Q1 revenue and net income rose yr/yr

Real Estate FFO per share grew 7.5% yr/yr in Q1

Company increased full-year Real Estate FFO per share guidance

Outlook

Company raises 2026 Real Estate FFO per share guidance to $13.10-$13.25

Simon Property expects 2026 net income per share of $6.61-$6.76

Result Drivers

LEASING MOMENTUM - Co said continued leasing activity supported operating performance

RETAILER SALES AND TRAFFIC - Co cited increases in retailer sales and property traffic as contributors to results

RENT AND OCCUPANCY - Base minimum rent per square foot and occupancy rates both increased yr/yr

Company press release: ID:nPnvwW6ma

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$1.76 bln
Q1 EPS
$1.48
Q1 Net Income
$568.5 mln
Q1 Real Estate FFO Per Share
$3.17


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 $205.00, about 1.4% above its May 8 closing price of $202.12

The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 27 three months ago

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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.)