
Simon Property Group beats Q3 FFO and revenue estimates as higher rents, strong retailer sales and leasing momentum drive growth, prompting an increase in 2026 guidance.
Simon Property Group, Inc. is a real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indianapolis, Indiana.
| Revenue (TTM) | $7.15B |
| Gross Profit (TTM) | $5.82B |
| EBITDA | $5.21B |
| Operating Margin | 44.30% |
| Return on Equity | 129.40% |
| Return on Assets | 5.64% |
| Revenue/Share (TTM) | $22.03 |
| Book Value | $11.79 |
| Price-to-Book | 16.68 |
| Price-to-Sales (TTM) | 12.12 |
| EV/Revenue | 14.25 |
| EV/EBITDA | 12.47 |
| Quarterly Earnings Growth (YoY) | -17.10% |
| Quarterly Revenue Growth (YoY) | 13.30% |
| Shares Outstanding | $323.55M |
| Float | $339.20M |
| % Insiders | 1.80% |
| % Institutions | 95.65% |
Volatility is currently contracting

Simon Property Group beats Q3 FFO and revenue estimates as higher rents, strong retailer sales and leasing momentum drive growth, prompting an increase in 2026 guidance.

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Simon Property Group, Inc. ( SPG ) Q3 2026 Earnings Call November 5, 2026 5:00 PM EST Company Participants Thomas Ward - Senior Vice President of Investor Relations Eli Simon - President, CEO, COO & Director Brian McDade - Executive VP & CFO Conference Call Participants Michael Goldsmith - UBS Investment Bank, Research Division Samir Khanal - BofA Securities, Research Division Caitlin Burrows - Goldman Sachs Group, Inc., Research Division Michael Griffin - Evercore ISI Institutional Equities, Research Division Vince Tibone - Green Street Advisors, LLC, Research Division Craig Mailman - Citigroup Inc., Research Division Ravi Vaidya - Mizuho Securities USA LLC, Research Division Michael Mueller - JPMorgan Chase & Co, Research Division Alexander Goldfarb - Piper Sandler & Co., Research Division Ronald Kamdem - Morgan Stanley, Research Division Juan Sanabria - BMO Capital Markets Equity Research Floris Gerbrand Van Dijkum - Ladenburg Thalmann & Co. Inc., Research Division Richard Hightower - Barclays Bank PLC, Research Division Linda Tsai - Truist Securities, Inc., Research Division Viktor Fediv - Scotiabank Global Banking and Markets, Research Division Presentation Operator Good day, and welcome to the Simon Property Group Third Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

INDIANAPOLIS, Nov. 5, 2026 /PRNewswire/ -- Simon ®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today reported results for the quarter ended September 30, 2026. "We delivered another quarter of excellent financial and operational results," said Eli Simon, Chief Executive Officer, President and Chief Operating Officer.

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REITs, as measured by VNQ, have pulled back ~6% from July highs amid rising interest rates, now trading at meaningful discounts to NAV. Public REITs' low leverage and fixed-rate debt position them to benefit from declining new supply and potential rent growth over 2027-2028. Current market dislocation reflects capital market volatility, not deteriorating property fundamentals; transaction markets remain frozen due to wide bid-ask spreads.

SPG's Q3 2026 earnings are expected to reflect higher revenues and FFO per share, fueled by strong leasing demand despite rising interest expenses.

Beyond analysts' top-and-bottom-line estimates for Simon Property (SPG), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2026.

INDIANAPOLIS, Oct. 30, 2026 /PRNewswire/ -- Simon ®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today announced that a Simon subsidiary has entered into an agreement to acquire University Village, an open-air retail center in Seattle, Washington. Since opening in the 1950s, University Village has been a vibrant Seattle community hub.
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