Simon Property Q2 Real Estate FFO per share rises on leasing demand

Simon Property

10/08/2026 21:15

Overview
U.S. retail REIT's Q2 Real Estate FFO per share rose 7.9% yr/yr
Net income per share declined from prior year, which included a non-cash after-tax gain

Outlook
Simon Property raises 2026 Real Estate FFO per share outlook to $13.20-$13.30
Company sees 2026 net income per share between $6.47 and $7.47

Result Drivers
LEASING DEMAND - Co said consistent broad-based leasing demand supported Q2 results
RETAILER SALES - Co reported retailer sales per square foot rose 13.9% yr/yr, contributing to performance
RENT GROWTH - Base minimum rent per square foot increased 6.3% yr/yr, aiding revenue

Company press release: ID:nPn3ZKlvra

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$1.79 bln
 
Q2 EPS
 
$1.49
 
Q2 Consolidated Net Income
 
$574.13 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 15 "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 $220.00, about 1.3% below its August 7 closing price of $222.91
The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 31 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.)