Simon Property Group Q1 net income falls to $413.7 million; Real Estate FFO rises 1.4%
Simon Property Group reported first-quarter 2025 net income attributable to common stockholders of $413.7 million, or $1.27 per diluted share, down from $731.7 million, or $2.25 per diluted share, a year earlier. Real Estate FFO rose to $1.113 billion, or $2.95 per diluted share, from $2.91, and the company reaffirmed its full-year 2025 Real Estate FFO guidance of $12.40 to $12.65 per diluted share. The lower net income reflects a $54.8 million loss tied to Klépierre exchangeable bonds and a prior-year gain from the sale of its Authentic Brands Group stake.
Key points
- Net income attributable to common stockholders: $413.7 million ($1.27 per diluted share) versus $731.7 million ($2.25) in the first quarter of 2024.
- Real Estate FFO: $1.113 billion ($2.95 per diluted share) versus $1.090 billion ($2.91), a 1.4% increase per share.
- Total revenue: $1.473 billion versus $1.443 billion a year earlier.
- Full-year 2025 Real Estate FFO guidance reaffirmed at $12.40 to $12.65 per diluted share; quarterly common dividend declared at $2.10, up 5.0% year over year, payable June 30, 2025.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 12, 2025.
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