On Tuesday, Simon Property Group, Inc. (SPG) announced its financial results for the fourth quarter, reporting a net income of $667.2 million, or $2.04 per share, a decrease from the previous year's $747.5 million, or $2.29 per share.
The quarter's funds from operations were recorded at $1.389 billion, or $3.68 per share, slightly down from $1.382 billion, or $3.69 per share, in the same period last year. Real Estate funds from operations also saw an increase, totaling $1.261 billion or $3.35 per share, compared to $1.208 billion, or $3.23 per diluted share, previously.
Notably, the net operating income (NOI) from domestic properties rose by 4.4%, with the overall portfolio NOI increasing by 4.5% year-over-year.
The total revenue for the fourth quarter amounted to $1.582 billion, up from $1.527 billion in the previous year.
Looking ahead to the full year of 2025, Simon Property Group projects net income to range between $6.95 and $7.20 per share. Additionally, the company anticipates Real Estate funds from operations and total funds from operations to fall within the range of $12.40 to $12.65 per share.
