Simon Property(US:SPG) ZACKS·2026-02-03 18:01Core Insights - Simon Property Group, Inc. (SPG) reported a fourth-quarter 2025 real estate funds from operations (FFO) per share of $3.49, exceeding the Zacks Consensus Estimate of $3.47 and up from $3.35 in the prior-year period [1][9] - The company generated revenues of $1.79 billion in the quarter, surpassing the Zacks Consensus Estimate of $1.63 billion, reflecting a 13.2% year-over-year increase [2] - SPG's guidance for 2026 real estate FFO per share is projected between $13.00 and $13.25, aligning with the Zacks Consensus Estimate of $13.02 [6] Revenue and Occupancy - Revenues from lease income reached $1.64 billion, a 14.5% increase compared to the prior-year period [3] - The occupancy rate for the U.S. Malls and Premium Outlets portfolio was 96.4% as of December 31, 2025, slightly down from 96.5% a year earlier [3] - The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio rose to $60.97, an increase of 4.7% from $58.26 as of December 31, 2024 [3] Financial Performance - Domestic property net operating income (NOI) increased by 4.8% year over year, while portfolio NOI rose by 5.1% [4] - For the full year 2025, SPG reported real estate FFO per share of $12.73, exceeding the Zacks Consensus Estimate of $12.68 and improving by 4% over the prior-year quarter [2] Balance Sheet and Liquidity - As of the end of the fourth quarter 2025, SPG had $9.1 billion in liquidity, which included $1.4 billion in cash and $7.7 billion in available capacity under revolving credit facilities [5] Dividend Announcement - Concurrent with its fourth-quarter earnings release, SPG announced a quarterly common stock dividend of $2.20 for the first quarter of 2026, payable on March 31 to shareholders of record as of March 10, 2026 [7] Market Position - SPG currently holds a Zacks Rank 2 (Buy), indicating a favorable outlook in the market [8]