Simon Property Group, Inc. (SPG) Earnings Call Transcripts

Simon Property Group, Inc.'s Latest Earnings Call - September 16, 2026

In the third quarter of fiscal year 2026, Simon Property Group (SPG) reported strong leasing demand and robust consumer traffic, signaling a favorable operating environment. Revenue for the quarter was $1.5 billion, with earnings per share (EPS) of $1.25, both exceeding analyst expectations. Management maintained its guidance for the year, projecting continued growth in occupancy and rental rates, while also highlighting a significant $4 billion development pipeline that is expected to enhance future cash flows.

Reported metrics

Guidance from management

Management maintained its guidance for the year, projecting continued growth in occupancy and rental rates, supported by a strong leasing pipeline and consumer demand.

What management said

I mean, I guess I would only add to that, like the scale, it's important what have you, but it's about relationships, and it's about the bargain that we stand up to our commitments, right? The retailer community knows what they're getting when they do business with Simon across the spectrum. And so that repeat business is really important because -- that is not the case away from us by and large. And so knowing wha...

It gives us an opportunity for first part of the data collection, right? We as the landlord we're traditionally behind the retailer with their point of sale, but by using our loyalty program and appreciate the otologist that's happening in our assets. And so -- that gives us a leg up in life point to monetize it, but also to better operate our business.

What analysts pressed on

Analysts raised concerns about potential macroeconomic headwinds affecting consumer spending and the impact of higher interest rates on refinancing costs. There were questions regarding how these factors might influence future growth and occupancy rates.

Main topics on the call

• Leasing Demand and Occupancy — Management reported that leasing demand remains 'unabated' with occupancy around 96%. They signed over 2,300 leases totaling more than 9.5 million square feet, with new deal rent per square foot up 17% year-over-year. CE...
• Consumer Health and Traffic — Consumer health remains strong, with sales comp up 5.7% in Q2 and traffic increasing 3.4% in July and August. Simon noted, 'We have not seen anything to make us think that the consumer is having a material pullback in an...
• Development Pipeline — Simon has a robust development pipeline of over $4 billion, with $1.1 billion currently under construction at a 9% yield. Management emphasized the importance of continuous reinvestment, stating, 'We own great assets and...
• Simon Media Network Launch — The upcoming launch of the Simon Media Network on October 2 is expected to enhance brand connections with consumers. Eli Simon mentioned, 'We had a ton of inbound not just from retailers but from travel and leisure compa...

Read the full Simon Property Group, Inc. transcript (September 16, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 59 Simon Property Group, Inc. earnings call transcripts on record, spanning February 4, 2020 to September 16, 2026. Based on this history, Simon Property Group, Inc. reports quarterly. The most recent call on file is dated September 16, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

SPG

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Retail REITs

Calls on record

59

First call

February 4, 2020

Most recent

September 16, 2026

Reporting cadence

quarterly