)
Investing22 Dec 2023
A Crash Course in REITs
There are several reasons an investor might choose to invest in a REIT rather than in physical real estate.
Simon Property Group (SPG) investor relations material
Simon Property Group Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Achieved strong financial and operational performance in Q3 2025, with higher occupancy, increased retailer sales, and robust cash flow.
Completed acquisition of the remaining 12% interest in The Taubman Realty Group, consolidating full ownership and enhancing portfolio quality.
Increased quarterly dividend by 4.8% year-over-year to $2.20 per share.
Expanded development pipeline with new projects, including a major mixed-use development in Nashville.
Owns, develops, and manages 194 U.S. properties and holds interests in 38 international outlets and a 22.4% stake in Klépierre as of September 30, 2025.
Financial highlights
Q3 2025 net income attributable to common stockholders was $606.2M ($1.86 per diluted share), up from $475.2M ($1.46) in Q3 2024.
Q3 2025 FFO was $1.228B ($3.25 per diluted share), up from $1.067B ($2.84) in Q3 2024; Real Estate FFO was $1.215B ($3.22 per diluted share), a 5.6% increase year-over-year.
Domestic property NOI increased 5.1% and portfolio NOI increased 5.2% year-over-year for the quarter.
For the nine months ended September 30, 2025, net income was $1.576B ($4.83 per diluted share), compared to $1.7B ($5.22) in 2024.
Lease income rose $241.6M year-over-year to $4.2B for the nine months ended September 30, 2025.
Outlook and guidance
Raised full-year 2025 Real Estate FFO per diluted share guidance to $12.60–$12.70, up from $12.24 last year and prior guidance of $12.45–$12.65.
Estimated net income attributable to common stockholders per diluted share for 2025 is $6.74–$6.84.
Management expects positive cash flow from operations in 2025 and sufficient liquidity to meet capital needs.
What is the dilution impact of Taubman acquisition?
How new debt rates impact overall cost of capital?
What drives the 2.5% base rent per sq ft increase?
Specifics on TRG operational enhancements?
Rank capital allocation priorities post-TRG deal.
AI's impact on mall traffic and consumer behavior?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Simon Property Group earnings date
Q4 20254 Feb, 2026
Next Simon Property Group earnings date
Q4 20254 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Simon Property Group Inc is a real estate investment trust specializing in the ownership, development, and management of retail real estate properties. Its portfolio includes shopping malls, premium outlets, and lifestyle centers across North America, Europe, and Asia. The company primarily serves retailers, entertainment providers, and commercial tenants. Simon Property Group Inc is headquartered in Indianapolis, Indiana, and its shares are listed on the NYSE.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage