Simon Property Group reported second-quarter real estate funds from operations of $1.25 billion, or $3.29 per share, up 7.9% year-over-year, and raised its full-year 2026 real estate FFO guidance to a range of $13.20 to $13.30 per share. Domestic property net operating income increased 8.5% year-over-year, while portfolio NOI grew 8.3% on a constant currency basis. Malls and premium outlet occupancy held at 96%, and retailer sales reached $838 per square foot, up 13.9%. The company signed more than 1,200 leases totaling over 4.8 million square feet, with new deal rents up 17% and tenant allowances down 12% year-over-year. Simon also declared a third-quarter dividend of $2.25 per share, a 4.7% increase, and repurchased approximately 793,000 shares for $211 million at an average price of $205.10 per share.
Simon Property Group IncRaises 2026 FFO guidance and reports strong Q2 results, including higher NOI and sales per square foot.
