Simon Property Group (SPG) Research

Forward Estimates

EPS Estimates

Current Qtr

$1.53

$1.35$1.65

vs $1.36+12.7%

4 analysts

Next Qtr

$1.64

$1.47$1.74

vs $1.60+2.4%

4 analysts

Current Yr

$6.44

$5.78$6.86

vs $5.91+9.0%

3 analysts

Next Yr

$6.71

$5.99$7.43

vs $6.44+4.1%

5 analysts

Revenue Estimates

Current Qtr

$1.58B

$1.47B$1.64B

vs $1.38B+14.6%

9 analysts

Next Qtr

$1.62B

$1.49B$1.67B

vs $1.45B+11.2%

9 analysts

Current Yr

$6.48B

$5.98B$6.67B

vs $5.84B+11.0%

10 analysts

Next Yr

$6.74B

$6.13B$7.00B

vs $6.48B+4.0%

10 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for SPG on EDGAR.

SPG filing events and research context
Filed	Item	Context
May 11, 2026	mda_quarterly	Simon Property Group reported a diluted EPS of $1.48 for the first quarter of 2026, up from $1.27 year-over-year, with Portfolio NOI increasing 6.7%. This growth was primarily driven by the acquisition of the remaining 12% interest in The Taubman Realty Group (TRG) and improved core business fundamentals. Average base minimum rent for U.S. Malls and Premium Outlets rose 5.2% to $61.99 per square foot, while occupancy remained stable at 96.0%. Strategic portfolio expansions included the acquisition of Phillips Place in North Carolina and two luxury outlet destinations in Italy. The company's effective overall borrowing rate increased 30 basis points to 3.90%, though it maintains $7.5 billion in available borrowing capacity under its Credit Facilities. Liquidity was further managed through the issuance of $800 million in senior unsecured notes at 4.30% and the settlement of exchangeable bonds via Klépierre shares and cash. Key risks include inflationary pressures on property operating expenses, e-commerce competition, and geopolitical instability in Ukraine and the Middle East. Simon continues to return capital via a $2.20 per share quarterly dividend and a newly authorized $2.0 billion common stock repurchase program.
Feb 25, 2026	business	Simon Property Group is a self-managed REIT specializing in premier shopping, dining, and mixed-use destinations, primarily through its malls, Premium Outlets, and The Mills brands. As of December 31, 2025, its portfolio comprises 212 U.S. properties across 38 states and Puerto Rico, 42 international properties in Asia, Europe, and Canada, and a 22.2% equity stake in Klépierre SA. The company recently consolidated its holdings by acquiring the remaining 12% interest in The Taubman Realty Group. To maintain REIT qualification, Simon distributes at least 90% of taxable income, necessitating frequent access to capital markets. Liquidity is managed through a $5.0 billion unsecured revolving credit facility, a $3.5 billion supplemental facility, and a $2.0 billion commercial paper program. The company adheres to debt-to-asset covenants, generally limiting total debt to 65% of assets, while prioritizing the maintenance of investment-grade ratings. Key strategic risks include competition from other physical retail formats and the continued growth of e-commerce. Additionally, the company is executing a $2.0 billion common stock repurchase program authorized through February 29, 2028.
Feb 25, 2026	risk_factors	Simon Property Group’s primary market risks involve interest rate volatility and foreign currency fluctuations, particularly concerning Yen and Euro-denominated operations and debt. A 50 basis point increase in market interest rates would decrease the fair value of the company's debt by approximately $754.7 million and reduce future earnings and cash flows by $0.2 million. The company's $30.2 billion investment property portfolio is subject to impairment risks driven by fluctuations in capitalization rates, forecasted operating income, and local market demand. Maintaining REIT status is critical to avoiding federal corporate income taxes, while credit risk is tied to the collectability of tenant receivables amidst potential tenant bankruptcies. Furthermore, the recent acquisition of the remaining interest in The Taubman Realty Group introduces short-term valuation risk, as preliminary fair value estimates for acquired assets and liabilities are not yet finalized. These factors, combined with the company's reliance on variable lease consideration based on tenant sales, create a financial profile highly sensitive to both macroeconomic shifts and retail sector performance.

Filed

Item

Context

May 11, 2026

mda_quarterly

Simon Property Group reported a diluted EPS of $1.48 for the first quarter of 2026, up from $1.27 year-over-year, with Portfolio NOI increasing 6.7%. This growth was primarily driven by the acquisition of the remaining 12% interest in The Taubman Realty Group (TRG) and improved core business fundamentals. Average base minimum rent for U.S. Malls and Premium Outlets rose 5.2% to $61.99 per square foot, while occupancy remained stable at 96.0%. Strategic portfolio expansions included the acquisition of Phillips Place in North Carolina and two luxury outlet destinations in Italy. The company's effective overall borrowing rate increased 30 basis points to 3.90%, though it maintains $7.5 billion in available borrowing capacity under its Credit Facilities. Liquidity was further managed through the issuance of $800 million in senior unsecured notes at 4.30% and the settlement of exchangeable bonds via Klépierre shares and cash. Key risks include inflationary pressures on property operating expenses, e-commerce competition, and geopolitical instability in Ukraine and the Middle East. Simon continues to return capital via a $2.20 per share quarterly dividend and a newly authorized $2.0 billion common stock repurchase program.

Feb 25, 2026

business

Simon Property Group is a self-managed REIT specializing in premier shopping, dining, and mixed-use destinations, primarily through its malls, Premium Outlets, and The Mills brands. As of December 31, 2025, its portfolio comprises 212 U.S. properties across 38 states and Puerto Rico, 42 international properties in Asia, Europe, and Canada, and a 22.2% equity stake in Klépierre SA. The company recently consolidated its holdings by acquiring the remaining 12% interest in The Taubman Realty Group. To maintain REIT qualification, Simon distributes at least 90% of taxable income, necessitating frequent access to capital markets. Liquidity is managed through a $5.0 billion unsecured revolving credit facility, a $3.5 billion supplemental facility, and a $2.0 billion commercial paper program. The company adheres to debt-to-asset covenants, generally limiting total debt to 65% of assets, while prioritizing the maintenance of investment-grade ratings. Key strategic risks include competition from other physical retail formats and the continued growth of e-commerce. Additionally, the company is executing a $2.0 billion common stock repurchase program authorized through February 29, 2028.

Feb 25, 2026

risk_factors

Simon Property Group’s primary market risks involve interest rate volatility and foreign currency fluctuations, particularly concerning Yen and Euro-denominated operations and debt. A 50 basis point increase in market interest rates would decrease the fair value of the company's debt by approximately $754.7 million and reduce future earnings and cash flows by $0.2 million. The company's $30.2 billion investment property portfolio is subject to impairment risks driven by fluctuations in capitalization rates, forecasted operating income, and local market demand. Maintaining REIT status is critical to avoiding federal corporate income taxes, while credit risk is tied to the collectability of tenant receivables amidst potential tenant bankruptcies. Furthermore, the recent acquisition of the remaining interest in The Taubman Realty Group introduces short-term valuation risk, as preliminary fair value estimates for acquired assets and liabilities are not yet finalized. These factors, combined with the company's reliance on variable lease consideration based on tenant sales, create a financial profile highly sensitive to both macroeconomic shifts and retail sector performance.

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SPG filing events and research context

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