SPG Q3 2025 TL;DR Summary
Simon Property Group delivered strong operational results, highlighted by 6.4% YoY growth in 9-month Lease Income (\(4.200B) and a 4.5% rise in Portfolio NOI. Occupancy hit 96.4% with Average Base Rent increasing 2.5%. Quarterly Net Income surged to \)702.7M, offsetting a YTD net income decline to \(1.824B, largely due to the absence of a significant 2024 asset gain (\)414.8M pre-tax from the ABG sale). Diluted EPS was $4.83.
Strategic Activity & Subsequent Events: SPG continues aggressive investment, swinging to a $1.24B net cash outflow from investing activiti
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