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Sep 30, 2024
Simon Q3 2024 Earnings Report
Simon's third quarter performance was marked by solid financial results, operational strength, successful openings, and an increased dividend.
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
Revenue by Segment
Lease Income Revenue
CapyFin.comManagement Fees and Other Revenues Revenue
CapyFin.comOther Income Revenue
CapyFin.com 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