Simon Property Group Inc (NYSE:SPG) stock rose 3.18% (As on November 4, 11:21:41 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY25 and raised its guidance for 2025 real estate FFO per share and its quarterly dividend. The company has closed on the acquisition of the remaining 12% interest in The Taubman Realty Group Limited Partnership (“TRG”) which it did not own in exchange for 5.06 million limited partnership units in Simon Property Group L.P.  SPG reported revenues from lease income of $1.45 billion, 8.4% higher than the prior-year period’s figure.  As of Sept. 30, 2025, the occupancy for the U.S. Malls and Premium Outlets portfolio came in at 96.4%, up 20 basis points from 96.2% as of Sept. 30, 2024. The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio was $59.14 as of Sept. 30, 2025, rising from $57.71 as of Sept. 30, 2024. This reflected an increase of 2.5%. Domestic property net operating income (NOI) increased 5.1% year over year, and portfolio NOI rose 5.2%. Simon Property exited the third quarter of 2025 with $9.5 billion of liquidity. This comprised $2.1 billion of cash on hand, including its share of joint venture cash and $7.4 billion of available capacity under the company’s revolving credit facilities.

SPG in the third quarter of FY25 has reported the adjusted funds from operations (FFO) per share of $3.22, beating the analysts’ estimates for the adjusted FFO per share of $3.09, according to the Zacks Consensus Estimate. Funds From Operations (“FFO”) was $1.228 billion, or $3.25 per diluted share as compared to $1.067 billion, or $2.84 per diluted share in the prior year. The company had reported the adjusted revenue growth of 8.2 percent to $1.60 billion in the third quarter of FY25, beating the analysts’ estimates for revenue of $1.53 billion. Net income attributable to common stockholders was $606.2 million, or $1.86 per diluted share, as compared to $475.2 million, or $1.46 per diluted share in 2024.

Additionally, Simon Property announced a quarterly common stock dividend of $2.20 for the fourth quarter of 2025. This marks an increase of 4.8% year over year. The dividend will be paid out on Dec. 31 to shareholders of record as of Dec. 10, 2025.

Simon Property has raised its outlook for 2025 real estate FFO per share. The company now expects the same to be between $12.60 and $12.70, up from the earlier guided range of $12.45-12.65, raising the midpoint to $12.65. The Zacks Consensus Estimate of $12.51 is below the guided range.