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Jun 30, 2021
Simon Q2 2021 Earnings Report
Simon's profitability and cash flow substantially improved, shopper traffic, retailer sales and leasing activity increased, and full-year guidance and quarterly dividend were raised.
Key Takeaways
Simon Property Group reported a net income of $617.3 million, or $1.88 per diluted share, and FFO of $1.217 billion, or $3.24 per diluted share, for the quarter ended June 30, 2021. The company also increased its full-year 2021 guidance and raised its quarterly dividend.
Net income attributable to common stockholders was $617.3 million, or $1.88 per diluted share.
Funds From Operations (FFO) was $1.217 billion, or $3.24 per diluted share, a 52.8% increase.
Net operating income (NOI) from domestic and international properties, combined, increased 16.6% compared to the prior year period.
Occupancy in U.S. Malls and Premium Outlets was 91.8% at June 30, 2021, and base minimum rent per square foot was $55.03.
Forward Guidance
The Company currently estimates net income to be within a range of $5.47 to $5.57 per diluted share and FFO will be within a range of $10.70 to $10.80 per diluted share for the year ending December 31, 2021.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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