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Why Is Simon Property (SPG) Up 5.7% Since Last Earnings Report?
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It has been about a month since the last earnings report for Simon Property (SPG - Free Report) . Shares have added about 5.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Simon Property due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Simon Property Group, Inc. before we dive into how investors and analysts have reacted as of late.
Simon Property Q2 FFO Beats Estimates on Higher Rental & Occupancy
Simon Property reported second-quarter 2025 real estate FFO per share of $3.05, which surpassed the Zacks Consensus Estimate of $3.04. This also compared favorably with the real estate FFO per share of $2.93 a year ago.
Results reflected an increase in revenues, backed by a rise in the base minimum rent per square foot and occupancy levels. Simon Property raised its guidance for 2025 real estate FFO per share at the midpoint.
It generated revenues of $1.50 billion in the quarter, which missed the Zacks Consensus Estimate of $1.51 billion. However, the reported figure increased 2.8% year over year.
Behind the Headlines
Simon Property reported revenues from lease income of $1.38 billion, 4.8% higher than the prior-year period’s figure.
As of June 30, 2025, the occupancy for the U.S. Malls and Premium Outlets portfolio came in at 96%, up 40 basis points from 95.6% as of June 30, 2024.
The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio was $58.70 as of June 30, 2025, rising from $57.94 as of June 30, 2024. This reflected an increase of 1.3%.
Domestic property net operating income (NOI) increased 4.2% year over year, and portfolio NOI rose 4.7%.
Portfolio Activity
In June 2025, Simon Property acquired its partner’s stake in the retail and parking facilities at Brickell City Centre in Miami, FL. The company now wholly owns the asset.
Balance Sheet Position
Simon Property exited the second quarter of 2025 with $9.2 billion of liquidity. This comprised $1.8 billion of cash on hand, including its share of joint venture cash and $7.4 billion of available capacity under the company’s revolving credit facilities.
2025 Outlook
Simon Property has narrowed its outlook for 2025 real estate FFO per share. The company now expects the same to be between $12.45 and $12.65 from the earlier guided range of $12.40-12.65, raising the midpoint to $12.55.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
VGM Scores
Currently, Simon Property has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Simon Property has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Simon Property belongs to the Zacks REIT and Equity Trust - Retail industry. Another stock from the same industry, Kimco Realty (KIM - Free Report) , has gained 4.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2025.
Kimco Realty reported revenues of $525.17 million in the last reported quarter, representing a year-over-year change of +5%. EPS of $0.23 for the same period compares with $0.41 a year ago.
Kimco Realty is expected to post earnings of $0.43 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate has changed -0%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Kimco Realty. Also, the stock has a VGM Score of D.
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Why Is Simon Property (SPG) Up 5.7% Since Last Earnings Report?
It has been about a month since the last earnings report for Simon Property (SPG - Free Report) . Shares have added about 5.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Simon Property due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Simon Property Group, Inc. before we dive into how investors and analysts have reacted as of late.
Simon Property Q2 FFO Beats Estimates on Higher Rental & Occupancy
Simon Property reported second-quarter 2025 real estate FFO per share of $3.05, which surpassed the Zacks Consensus Estimate of $3.04. This also compared favorably with the real estate FFO per share of $2.93 a year ago.
Results reflected an increase in revenues, backed by a rise in the base minimum rent per square foot and occupancy levels. Simon Property raised its guidance for 2025 real estate FFO per share at the midpoint.
It generated revenues of $1.50 billion in the quarter, which missed the Zacks Consensus Estimate of $1.51 billion. However, the reported figure increased 2.8% year over year.
Behind the Headlines
Simon Property reported revenues from lease income of $1.38 billion, 4.8% higher than the prior-year period’s figure.
As of June 30, 2025, the occupancy for the U.S. Malls and Premium Outlets portfolio came in at 96%, up 40 basis points from 95.6% as of June 30, 2024.
The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio was $58.70 as of June 30, 2025, rising from $57.94 as of June 30, 2024. This reflected an increase of 1.3%.
Domestic property net operating income (NOI) increased 4.2% year over year, and portfolio NOI rose 4.7%.
Portfolio Activity
In June 2025, Simon Property acquired its partner’s stake in the retail and parking facilities at Brickell City Centre in Miami, FL. The company now wholly owns the asset.
Balance Sheet Position
Simon Property exited the second quarter of 2025 with $9.2 billion of liquidity. This comprised $1.8 billion of cash on hand, including its share of joint venture cash and $7.4 billion of available capacity under the company’s revolving credit facilities.
2025 Outlook
Simon Property has narrowed its outlook for 2025 real estate FFO per share. The company now expects the same to be between $12.45 and $12.65 from the earlier guided range of $12.40-12.65, raising the midpoint to $12.55.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in fresh estimates.
VGM Scores
Currently, Simon Property has a average Growth Score of C, though it is lagging a bit on the Momentum Score front with a D. Following the exact same course, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Simon Property has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Simon Property belongs to the Zacks REIT and Equity Trust - Retail industry. Another stock from the same industry, Kimco Realty (KIM - Free Report) , has gained 4.5% over the past month. More than a month has passed since the company reported results for the quarter ended June 2025.
Kimco Realty reported revenues of $525.17 million in the last reported quarter, representing a year-over-year change of +5%. EPS of $0.23 for the same period compares with $0.41 a year ago.
Kimco Realty is expected to post earnings of $0.43 per share for the current quarter, representing no change from the year-ago quarter. Over the last 30 days, the Zacks Consensus Estimate has changed -0%.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Kimco Realty. Also, the stock has a VGM Score of D.