Simon Property Group Reports Q3 2026 Earnings Growth Driven by Strong Leasing and Rent Spreads
Simon Property Group (SPG) reported strong third-quarter 2026 financial results, highlighted by a 4.7% year-over-year increase in Real Estate FFO to $3.37 per share. The company benefited from robust leasing fundamentals, evidenced by a 14.8% jump in retailer sales per square foot and a significant 17% increase in initial base minimum rent on new lease deals. Occupancy levels remained high across its portfolio, with Malls and Premium Outlets reaching 96.5%. Despite the operational strength, management noted headwinds from rising net interest expenses, which impacted FFO by $0.05 per share this quarter. Looking ahead, the company raised its full-year Real Estate FFO guidance to a range of $13.30 to $13.40 per share. Simon continues to maintain a strong liquidity position with $9 billion available and is actively executing a significant share repurchase program.
Topics: earnings report FFO growth leasing activity real estate