SPG · 8-K · 20261105PR123325

Revenue Performance and Mix

SIMON PROPERTY GROUP INC. · 2026-11-05 · Importance 48 · Surprise 40 · No source text

Consolidated lease income for the three months ended September 30, 2026 increased 15.7% to $1.681 billion from $1.453 billion in 2025; for the first nine months, it increased 18.3% to $4.970 billion from $4.200 billion. Fixed lease income rose to $1.354 billion from $1.174 billion in the quarter, while variable lease income increased to $327.2 million from $279.4 million. Beneficial interest of Combined NOI grew 1.9% to $1.785 billion in the quarter and 4.3% to $5.132 billion for the nine months. In the quarter, income from unconsolidated entities was $153.0 million, up from $143.9 million, while other income declined to $87.0 million from $111.7 million.

Key facts

• SIMON PROPERTY GROUP INC. had consolidated total revenue of $1,814.556 million for the three months ended September 30, 2026, versus $1,601.572 million in 2025. source
• SIMON PROPERTY GROUP INC. had consolidated total revenue of $5,362.247 million for the nine months ended September 30, 2026, versus $4,573.043 million in 2025. source
• SIMON PROPERTY GROUP INC.'s U.S. Malls and Premium Outlets reported retailer sales per square foot for the trailing 12 months ended September 30, 2026 were $852, versus $742 at September 30, 2025, an increase of 14.8%. source
• U.S. Malls and Premium Outlets total portfolio base minimum rent was $62.75 per square foot as of September 30, 2026, compared with $59.14 in 2025. source
• The Mills base minimum rent was $42.44 per square foot as of September 30, 2026, compared with $38.25 in 2025. source

Impact estimates