Simon Property Group Reports Strong Growth in Q3 2024 Performance

Simon Property Group, Inc. (NYSE: SPG), a leading real estate investment trust specializing in premier shopping, dining, entertainment, and mixed-use destinations, released its financial results for the quarter ended September 30, 2024. The company reported a Net Income attributable to common stockholders of $475.2 million, or $1.46 per diluted share, slightly lower than the previous year’s figure of $594.1 million, or $1.82 per share.

Real Estate Funds From Operations (“Real Estate FFO”) for the quarter were $1.144 billion, an increase from $1.091 billion in the previous year. Funds From Operations (“FFO”) stood at $1.067 billion, compared to $1.201 billion in the prior year. The domestic property Net Operating Income (“NOI”) witnessed a 5.4% increase, while the portfolio NOI saw a 5.0% rise compared to the same period last year.

The quarter also saw Simon Property Group’s occupancy rise to 96.2%, reflecting a 1.0% increase compared to the previous year, and a 2.3% growth in base minimum rent per square foot

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Simon Property Group’s 8K filing here.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.