Simon Property reports Q4 FFO $3.68, consensus $3.40

Reports Q4 revenue $1.58B, consensus $1.41B. Domestic property NOI increased 4.4% and portfolio NOI increased 4.5% compared to the prior year period. “I am extremely pleased with our Q4 results, concluding another successful and productive year for our Company,” said David Simon, Chairman, CEO and President. “In 2024, we generated record Funds From Operations of nearly $4.9B and returned more than $3B to shareholders. We executed over 21M square feet of leases, opened a fully-leased, new Premium Outlet in the U.S., delivered 16 significant redevelopment projects, including an expansion of a leading Premium Outlet in South Korea, and strengthened our industry-leading balance sheet.”