Simon Property Q3 Real Estate FFO per share rises; 2026 outlook raised 

Overview

• US retail REIT's Q3 revenue rose yr/yr, Real Estate FFO per share up 4.7%

• Net income fell due to non-cash after-tax losses from mark-to-market adjustments

• Company raised quarterly dividend and increased full-year Real Estate FFO per share guidance

Outlook

• Simon raises 2026 Real Estate FFO per share outlook to $13.30-$13.40 from $13.20-$13.30

Result Drivers

• LEASING MOMENTUM - Co said leasing activity continued, with increased rents and occupancy supporting results

• HIGHER BASE RENT - Base minimum rent per square foot increased 6.1% yr/yr as at Sept. 30, 2026 for US Malls and Premium outlets

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 15 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the commercial reits peer group is "buy."

• Wall Street's median 12-month price target for Simon Property Group Inc is $221.50, about 3.1% below its November 4 closing price of $228.50

• The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 33 three months ago

Reuters Recommended Reads

• Nov 2 - Realty Income's Q3 revenue beats; raises 2026 AFFO per share outlook

• Nov 4 - NNN REIT Q3 revenue beats estimates, raises 2026 disposition guidance

• Nov 4 - Tanger Q3 rental revenue and net income rise, company lifts 2026 guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)