Simon Property(US:SPG) ZACKS·2025-09-03 16:36Company Performance - Simon Property reported Q2 2025 real estate FFO per share of $3.05, exceeding the Zacks Consensus Estimate of $3.04 and up from $2.93 a year ago [3] - The company generated revenues of $1.50 billion in the quarter, slightly missing the Zacks Consensus Estimate of $1.51 billion, but reflecting a 2.8% year-over-year increase [4] - Lease income revenues were $1.38 billion, a 4.8% increase compared to the prior year [5] - Occupancy for the U.S. Malls and Premium Outlets portfolio was 96%, up 40 basis points from 95.6% a year ago [5] - The base minimum rent per square foot increased to $58.70, a rise of 1.3% from $57.94 a year ago [5] - Domestic property net operating income (NOI) increased by 4.2% year over year, while portfolio NOI rose by 4.7% [6] Strategic Moves - In June 2025, Simon Property acquired its partner's stake in the retail and parking facilities at Brickell City Centre in Miami, FL, gaining full ownership of the asset [7] Financial Position - As of the end of Q2 2025, Simon Property had $9.2 billion in liquidity, which included $1.8 billion in cash and $7.4 billion in available capacity under revolving credit facilities [8] 2025 Outlook - The company has narrowed its outlook for 2025 real estate FFO per share to a range of $12.45 to $12.65, raising the midpoint to $12.55 [9] Market Sentiment - Recent estimates for Simon Property have shown a downward trend, indicating a shift in market sentiment [10][13] - The stock currently holds a Zacks Rank 3 (Hold), suggesting an expectation of in-line returns in the coming months [13] Industry Comparison - Simon Property is part of the Zacks REIT and Equity Trust - Retail industry, where another player, Kimco Realty, has gained 4.5% over the past month [14]