Simon (NYSE: SPG) reported second quarter 2026 net income attributable to common stockholders of $483.1 million, or $1.49 per diluted share, versus $556.1 million, or $1.70, in 2025, which included a non-cash gain. Real Estate FFO rose to $1.249 billion, or $3.29 per diluted share, up 7.9% year-over-year, while FFO was $1.185 billion, or $3.12 per diluted share.
Domestic property NOI increased 8.5%, portfolio NOI grew 8.3%, and U.S. Malls and Premium Outlets occupancy remained 96.0%. Reported retailer sales per square foot climbed 13.9% to $838, and base minimum rent per square foot rose 6.3%. The Board declared a Q3 2026 common dividend of $2.25 per share, up 4.7% year-over-year, and maintained the Series J preferred dividend at $1.046875 per share.
Simon repurchased 793,077 common shares and 237,618 units for $211.4 million. It completed $1.4 billion of secured loans at a 5.36% average rate, issued €500 million of 3.65% senior notes, and closed a $460 million 5-year term loan. Liquidity at June 30, 2026 totaled $9.3 billion. Full-year 2026 Real Estate FFO guidance was raised to $13.20–$13.30 per diluted share.
Simon (NYSE:SPG) reported Q1 2026 net income of $479.6 million, or $1.48 per diluted share, up from $413.7 million, or $1.27 in 2025. Real Estate FFO rose to $1.208 billion, or $3.17 per share, a 7.5% increase.
Portfolio NOI grew 6.7%. Occupancy reached 96.0%, base rent per square foot rose 5.2% to $61.99, and retailer sales per square foot increased 11.8% to $819. Simon raised its quarterly dividend 7.1% to $2.25 and increased 2026 Real Estate FFO guidance to $13.10–$13.25 per share.
Simon (NYSE:SPG) reported fourth-quarter and full-year 2025 results, with record Real Estate FFO of $4.812 billion for 2025 and $1.328 billion in Q4. The company returned $3.5 billion to shareholders in 2025, completed $2.0 billion of property acquisitions, and executed over 17 million leased square feet.
Domestic NOI rose ~4.8% in Q4; occupancy was 96.4%; reported trailing-12-month retailer sales per sq ft were $799. Board declared a Q1 2026 dividend of $2.20. 2026 Real Estate FFO guidance: $13.00–$13.25 per diluted share.