Simon Property Group Raises 2026 FFO Guidance to $13.30-$13.40

Simon Property Group raised its 2026 Real Estate funds from operations (FFO) guidance to $13.30 to $13.40 per share and is targeting a fourth-quarter close for its University Village acquisition. The company also reported higher domestic property net operating income (NOI) and FFO per share in the third quarter.

Simon expects the acquisition to be modestly accretive next year and to add to net asset value on day one. It has not disclosed the purchase price.

President Eli Simon said domestic property NOI grew 6.6% and Real Estate FFO per share rose 4.7% from a year earlier. Mall and outlet occupancy reached 96.5%, while base minimum rent per square foot on new deals increased 17% year over year.

Management cited leasing as a key growth driver and expects about $0.30 per share in interest expense headwinds next year. Simon is targeting the fourth quarter of 2026 to complete the University Village deal.