Simon Q3 2024 Earnings Report
Key Takeaways
Simon Property Group reported net income attributable to common stockholders of $475.2 million, or $1.46 per diluted share, and FFO of $1.067 billion, or $2.84 per diluted share. Domestic property NOI increased 5.4%, and portfolio NOI increased 5.0%. Occupancy reached 96.2% in U.S. Malls and Premium Outlets.
Net income attributable to common stockholders was $475.2 million, or $1.46 per diluted share.
Real Estate FFO was $1.144 billion, or $3.05 per diluted share.
Domestic property NOI increased 5.4% and portfolio NOI increased 5.0%.
Occupancy in U.S. Malls and Premium Outlets reached 96.2%.
Simon
Simon
Simon Revenue by Segment
Forward Guidance
The Company currently estimates net income to be within a range of $7.18 to $7.28 per diluted share and FFO to be within a range of $12.80 to $12.90 per diluted share, excluding the $0.14 per diluted share of unrealized losses in fair value adjustments of the Klépierre exchangeable bonds and publicly traded equity instruments, net for the year ending December 31, 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income