Simon Property Q3 FFO Beats Estimates on Higher Revenues & Occupancy

Core Insights - Simon Property Group, Inc. (SPG) reported third-quarter 2025 FFO per share of $3.22, exceeding the Zacks Consensus Estimate of $3.09 and up from $3.05 in the prior-year period [1][9] - The company generated revenues of $1.60 billion, surpassing the Zacks Consensus Estimate of $1.53 billion, reflecting an 8.2% year-over-year increase [2][9] - SPG raised its guidance for 2025 FFO per share to a range of $12.60 to $12.70, up from the previous range of $12.45 to $12.65 [6] Revenue and Occupancy - Revenues from lease income amounted to $1.45 billion, an 8.4% increase compared to the prior-year period, exceeding the estimate of $1.39 billion [3] - Occupancy for the U.S. Malls and Premium Outlets portfolio was reported at 96.4%, a 20 basis points increase from 96.2% as of September 30, 2024 [3] - The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio rose to $59.14, reflecting a 2.5% increase from $57.71 a year earlier [4] Financial Position - As of the end of the third quarter, SPG had $9.5 billion in liquidity, which included $2.1 billion in cash and $7.4 billion in available capacity under revolving credit facilities [5] Dividend Announcement - SPG announced a quarterly common stock dividend of $2.20 for the fourth quarter of 2025, marking a 4.8% year-over-year increase, with payment scheduled for December 31, 2025 [7]