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Jun 30, 2024
Simon Q2 2024 Earnings Report
Simon's financial and operational performance was strong, as the company increased full-year guidance and raised the quarterly dividend.
Key Takeaways
Simon Property Group reported a positive second quarter, marked by increased net income, FFO, and domestic property NOI. The company raised its full-year 2024 guidance and increased its quarterly dividend, reflecting confidence in its retail real estate platforms and transformative redevelopments.
Net income attributable to common stockholders increased to $493.5 million, or $1.51 per diluted share.
FFO was $1.088 billion, or $2.90 per diluted share.
Domestic property NOI increased by 5.2%, and portfolio NOI increased by 4.8%.
Occupancy at U.S. Malls and Premium Outlets was 95.6%, a 0.9% increase compared to the prior year.
Revenue by Segment
Forward Guidance
The Company currently estimates net income to be within a range of $7.37 to $7.47 per diluted share and FFO to be within a range of $12.80 to $12.90 per diluted share for the year ending December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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