Business
Simon® Reports First Quarter 2025 Results and Reaffirms Full Year 2025 Real Estate FFO Per Share Guidance
Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today reported results for the quarter ended March 31, 2025.
About this update from Simon Property Group, Inc.
[{"type":"text","content":"INDIANAPOLIS, May 12, 2025 /PRNewswire/ -- Simon®, a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations, today reported results for the quarter ended March 31, 2025.","length":238,"tagName":"p"},{"type":"image","alt":"Simon (PRNewsfoto/Simon)","displaySize":"","headline":null,"caption":"Simon (PRNewsfoto/Simon)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":231,"url":"https://media.zenfs.com/en/prnewswire.com/6eeacc8d205c62a30d876713d56ff877"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/KVGtRFwwy64zNGYpEzVdJA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQwNztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/6eeacc8d205c62a30d876713d56ff877","width":400,"height":231}},"href":"https://mma.prnewswire.com/media/2684907/SIMON_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""Our first quarter results underscore the strength of our business," said David Simon, Chairman, Chief Executive Officer and President. "We delivered strong financial and operational performance and enhanced our portfolio with the acquisition of The Mall Luxury Outlets in Italy and the successful opening of Jakarta Premium Outlets in Indonesia. As macroeconomic conditions continue to shift, we are well-positioned with a fortress balance sheet and a proven track record of navigating successfully through a wide range of economic cycles." ","length":568,"tagName":"p"},{"type":"text","content":"Results for the Quarter","length":23,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income attributable to common stockholders was $413.7 million, or $1.27 per diluted share, as compared to $731.7 million, or $2.25 per diluted share in 2024.","length":161,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Net income for the first quarter of 2025 includes losses of $54.8 million, or $0.15 per diluted share, primarily due to an unrealized mark-to-market loss in fair value adjustment of the Klépierre exchangeable bonds the Company issued in November 2023.","length":251,"tagName":"p"}]},{"val":[{"type":"text","content":"Net income for the first quarter of 2024 included after-tax net gains of $303.9 million, or $0.81 per diluted share, primarily resulting from the sale o...