Simon Q4 2021 Earnings Report
Key Takeaways
Simon Property Group reported strong fourth-quarter results, with net income attributable to common stockholders at $503.2 million, or $1.53 per diluted share, and FFO at $1.160 billion, or $3.09 per diluted share. The company's occupancy rate increased to 93.4%, and base minimum rent per square foot was $53.91. Simon also provided 2022 guidance, estimating net income to be within a range of $5.90 to $6.10 per diluted share and FFO within a range of $11.50 to $11.70 per diluted share.
Net income attributable to common stockholders was $503.2 million, or $1.53 per diluted share.
FFO was $1.160 billion, or $3.09 per diluted share, a 42.4% increase.
Domestic property NOI increased 22.4% and Portfolio NOI increased 33.6% compared to the prior year period.
Occupancy was 93.4% at December 31, 2021, compared to 91.3% at December 31, 2020.
Simon
Simon
Forward Guidance
The Company currently estimates net income to be within a range of $5.90 to $6.10 per diluted share and FFO will be within a range of $11.50 to $11.70 per diluted share for the year ending December 31, 2022.