Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
Simon Property (GB:0L6P)
LSE:0L6P
Holding GB:0L6P?
Track your performance easily
Earnings Data
Report Date
Feb 10, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.82Last Year’s EPS
$2.29Same Quarter Last Year
Based on 13 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 01, 2024
|% Change Since: 3.36%
|Next Earnings Date:Feb 10, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong leasing activity, increased occupancy, and a dividend increase, indicating positive operational momentum. However, challenges remain with lower-income consumer spending and noncash losses from financial instruments. Despite these challenges, the overall sentiment remains positive due to strong financial and operational performance.Company Guidance
In the third quarter of 2024, Simon Property Group (SPG) reported strong financial and operational performance, highlighted by a real estate funds from operations (FFO) of $3.05 per share, marking a 4.8% increase from the previous year. The company's domestic and international operations contributed $0.15 of growth, driven by a 3% increase in lease income. Portfolio net operating income (NOI) grew by 5% year-over-year, with domestic NOI increasing by 5.4%, reflecting continued leasing momentum and resilient consumer spending. The company achieved a mall and outlet occupancy rate of 96.2%, a 1% increase from the prior year, while the Mills achieved an occupancy rate of 98.6%. In terms of leasing, SPG signed approximately 1,200 leases covering 4 million square feet in the quarter and more than 3,900 leases for 15 million square feet in the first nine months of 2024. The company also reported a dividend increase to $2.10 per share for the fourth quarter, a 10.5% year-over-year rise, bringing the dividend back to its pre-pandemic record high. Looking ahead, SPG affirmed its guidance range of $12.80 to $12.90 per share for the full year, excluding certain noncash losses.Increased Leasing Volumes and Occupancy Gains
Leasing volumes increased with approximately 1,200 leases signed in the quarter, totaling 4 million square feet. Occupancy for malls and outlets reached 96.2%, a 1% increase from the previous year.
Dividend Increase
The dividend was raised to $2.10 per share, marking a 10.5% year-over-year increase and returning to pre-pandemic record highs.
Strong Domestic NOI Growth
Domestic NOI increased by 5.4% year-over-year due to leasing momentum, resilient consumer spending, and operational excellence.
Successful New Developments
Opened Tulsa Premium Outlets at 100% leased and significant expansion at Busan Premium Outlets in South Korea. New development and redevelopment projects have a net cost share of $1.3 billion at an 8% yield.
Strong Balance Sheet and Debt Refinancing
Refinanced 14 property mortgages totaling $1.3 billion at an average rate of 6.13%. Ended the quarter with $11.1 billion of liquidity.
---
GB:0L6P Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
---
GB:0L6P Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 01, 2024 | $167.88 | $166.08 | -1.07% |
| Aug 05, 2024 | $145.89 | $150.44 | +3.12% |
| Feb 05, 2024 | $129.89 | $135.24 | +4.12% |
| Oct 30, 2023 | $98.82 | $102.62 | +3.84% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
---
FAQ
When does Simon Property (GB:0L6P) report earnings?
Simon Property (GB:0L6P) is schdueled to report earning on Feb 10, 2025, TBA Not Confirmed.
What is Simon Property (GB:0L6P) earnings time?
Simon Property (GB:0L6P) earnings time is at Feb 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Simon Property stock?
The P/E ratio of Simon Property is 22.4.
What is GB:0L6P EPS forecast?
GB:0L6P EPS forecast for the fiscal quarter 2024 (Q4) is $1.82.
---