Analyst Consensus ?
ConsensusHold28 ratings
Bullish1242.9%
Neutral1450.0%
Bearish27.1%
Simon Property Group, Inc. · SPG-PJ · FY2025 Q4 · Calendar Q1 2026
Simon maintains FY 2026 FFO outlook as leasing stays strong
The supplied analysis supports a constructive operating picture: strong leasing, high occupancy and rent growth underpin the outlook, while tariffs, financing costs and tenant credit are the main counterweights.
Reported Session unavailableNYSEReal Estate
$58.48B market cap
75quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$9.35
Consensus $1.90
EPS surprise
+392.1%
Reported versus consensus
Reported revenue
$1.79B
Consensus $1.49B
Revenue surprise
+20.0%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
—
Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about SPG-PJ FY2025 Q4
Transcript, numbers and history already loaded
How did the market react to SPG-PJ FY2025 Q4 earnings, and why?What changed in SPG-PJ's guidance and outlook in FY2025 Q4?Give me the bull and bear case for SPG-PJ after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management’s current priorities include continued redevelopment, Simon Plus expansion and international growth, alongside a maintained FY 2026 FFO outlook. The supplied analysis also notes a new premium outlet in Indonesia and 2025 acquisitions.
Guidance delta
Management maintained FY 2026 FFO guidance of $13-$13.25 per share, assuming at least 3% domestic NOI growth.
Key takeaways
- Leasing momentum remained strong, with 1,300 leases signed in Q4 and 4,600 for the year.
- Occupancy was 96.4% at malls and 99.2% at mills; average base rent rose 4.7% year over year.
- Management highlighted redevelopment, Simon Plus, and international expansion as growth drivers.
Management priorities
- Leasing and rent growth
- Redevelopment and mixed-use projects
- Simon Plus and international outlet expansion
Follow SPG-PJ with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Truist Securities | Hold | Hold | Maintain | Aug 28, 2023 |
| JP Morgan | Neutral | Neutral | Maintain | Aug 28, 2023 |
| Evercore ISI Group | In Line | Outperform | Downgrade | Aug 2, 2023 |
| UBS | Neutral | Neutral | Maintain | Jul 12, 2023 |
| Stifel | Buy | Buy | Maintain | Jul 12, 2023 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jul 5, 2023 |
| Mizuho | Neutral | Neutral | Maintain | May 25, 2023 |
| Morgan Stanley | Overweight | Overweight | Maintain | Feb 21, 2023 |
| Piper Sandler | Overweight | Overweight | Maintain | Jan 16, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 3, 2022 |
| Jefferies | Hold | Buy | Downgrade | Jun 29, 2022 |
| Compass Point | Buy | Buy | Maintain | Jun 21, 2022 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Apr 6, 2022 |
| Argus Research | Buy | Buy | Maintain | Nov 25, 2021 |
| Citigroup | Neutral | Neutral | Maintain | Nov 18, 2021 |
| BTIG | Buy | Buy | Maintain | Aug 26, 2021 |
| B of A Securities | Buy | Neutral | Upgrade | Aug 3, 2021 |
| BMO Capital | Market Perform | Market Perform | Maintain | Apr 14, 2021 |
| Edward Jones | Sell | Hold | Downgrade | Dec 15, 2020 |
| Raymond James | Market Perform | Outperform | Downgrade | Jun 10, 2020 |
| SunTrust Robinson Humphrey | Hold | Hold | Maintain | Apr 23, 2020 |
| CFRA | Sell | Hold | Downgrade | Feb 13, 2020 |
| Barclays | Overweight | Overweight | Maintain | Jul 16, 2018 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jun 19, 2017 |
| RBC Capital | Sector Perform | Outperform | Downgrade | Aug 1, 2016 |
| Credit Suisse | Outperform | Outperform | Maintain | May 31, 2015 |
| McNicoll Lewis Vlak | Hold | Hold | Maintain | May 4, 2014 |
| Imperial Capital | In Line | In Line | Maintain | Apr 22, 2014 |
Named analyst price targets
Upside is unavailable because neither a positive current snapshot nor previous close is persisted. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Evercore ISI | Analyst unavailable | $114 | $64.99 | - | Sep 27, 2022 |
| Truist Financial | Analyst unavailable | $125 | $65.31 | - | Aug 16, 2022 |
| Mizuho Securities | Analyst unavailable | $115 | $65.66 | - | Aug 3, 2022 |
| UBS | Analyst unavailable | $115 | $64.02 | - | Aug 2, 2022 |
| UBS | Analyst unavailable | $110 | $64.5 | - | Jul 25, 2022 |
| Compass Point | Analyst unavailable | $160 | $65.85 | - | Jun 22, 2022 |
Track every rating change on SPG-PJ the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationSimon Property Group, an S&P 100 company, functions as a prominent real estate investment trust. It holds ownership of a distinguished collection of retail, dining, entertainment, and multi-use lifestyle centers. These expansive properties, located across North America, Europe, and Asia, serve as vibrant social hubs for millions of daily visitors, collectively generating annual sales volumes in the billions.
Historical context
All SPG-PJ earningsLatest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the SPG-PJ recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:36:15.940040+00:00
- Polygon adjusted daily market bars
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-02T22:06:04.866250+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-02. For educational purposes only; not investment advice.