Simon Q3 2023 Earnings Report
Key Takeaways
Simon Property Group reported a strong third quarter in 2023, with net income attributable to common stockholders increasing to $594.1 million, or $1.82 per diluted share. Funds From Operations (FFO) also saw a rise, reaching $1.201 billion, or $3.20 per diluted share. The company also increased their full year guidance.
Net income attributable to common stockholders was $594.1 million, or $1.82 per diluted share.
Funds From Operations (FFO) was $1.201 billion, or $3.20 per diluted share.
Domestic property Net Operating Income (NOI) increased 4.2%.
Portfolio NOI increased 4.3%.
Simon
Simon
Simon Revenue by Segment
Forward Guidance
The Company currently estimates net income to be within a range of $6.67 to $6.77 per diluted share and FFO to be within a range of $12.15 to $12.25 per diluted share for the year ending December 31, 2023. The FFO per diluted share range is an increase from the $11.85 to $11.95 per diluted share range provided on August 2, 2023, or an increase of $0.30 per diluted share at the mid-point.
Revenue & Expenses
Visualization of income flow from segment revenue to net income