Simon Property Group Q1 Profit Down

(RTTNews) - Real estate investment trust Simon Property Group, Inc. (SPG) Monday reported first-quarter net income of $413.7 million or $1.27 per share, as compared to $731.7 million, or $2.25 per share in 2024.

Real Estate Funds From Operations was $1.113 billion, or $2.95 per diluted share as compared to $1.090 billion, or $2.91 per diluted share in the prior year.

FFO was $1.005 billion, or $2.67 per diluted share as compared to $1.334 billion, or $3.56 per diluted share in the prior year.

Total revenues for the quarter were $1.473 billion, compared to $1.442 billion last year.

Looking forward to full year 2025, the company is reaffirming its outlook for Real Estate FFO of $12.40 to $12.65 per share.