Zacks Investment Research
06 Nov 2026, 15:51 UTC · 1h ago
SPG Q3 FFO Tops Estimates on Leasing Strength, Outlook Raised
Impact · against what's priced in
The Q3 results for Simon Property Group are marginally positive as they provide evidence of the revenue acceleration the market has previously discounted. While the FFO beat is modest, the 13.3% revenue growth and increased retailer sales per square foot move the needle toward the higher growth rates required by the reverse-DCF.
- SPG+0.20
Challenges what's priced in
- The price assumes
The sustained acceleration of revenue growth to the 9.4% compound annual rate the reverse-DCF requires
Quarterly revenue grew 13.3% year-over-year to $1.81 billion, significantly exceeding the 6.7% FY2025 rate the market is currently paying for and moving closer to the 9.4% CAGR the price currently declines.
What SPG's price assumes · Sep 13
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