Simon Property Group reported strong Q1 2026 earnings with net income of $479.6 million ($1.48 per diluted share), raised full-year Real Estate FFO guidance to $13.10-$13.25 per share, and increased its quarterly dividend to $2.25 per share.
Key takeaways
Net income attributable to common stockholders $479.6 million or $1.48 per diluted share, up from $413.7 million or $1.27 in Q1 2025.
Real Estate FFO $1.208 billion or $3.17 per diluted share, up 7.5% year-over-year.
Domestic and portfolio NOI increased 6.7% year-over-year.
U.S. Malls and Premium Outlets occupancy 96.0% at March 31, 2026, up from 95.9%.
Raised full-year 2026 Real Estate FFO guidance to $13.10-$13.25 per diluted share.
Increased Q2 2026 common stock dividend to $2.25 per share, payable June 30.
Repurchased 965,296 common shares for $175 million during the quarter.