Simon Q1 2022 Earnings Report
Key Takeaways
Simon Property Group reported strong first quarter results with net income attributable to common stockholders of $426.6 million, or $1.30 per diluted share. Funds From Operations (FFO) was $1.046 billion, or $2.78 per diluted share. The company increased its full-year 2022 guidance and raised its quarterly dividend.
Net income attributable to common stockholders was $426.6 million, or $1.30 per diluted share.
Funds From Operations (“FFO”) was $1.046 billion, or $2.78 per diluted share.
Domestic property Net Operating Income (“NOI”) increased 7.5% and portfolio NOI increased 8.8%, compared to the prior year period.
Occupancy was 93.3% at March 31, 2022, compared to 90.8% at March 31, 2021.
Simon
Simon
Simon Revenue by Segment
Forward Guidance
The Company currently estimates net income to be within a range of $5.93 to $6.08 per diluted share and Comparable FFO will be within a range of $11.60 to $11.75 per diluted share for the year ending December 31, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income