Скачать или смотреть Is Simon Property Group the Ultimate REIT?

Welcome back to Iron Financial. Today, we are putting a blowtorch to the Q4 and Full Year 2025 results of the largest retail REIT in the U.S.: Simon Property Group (SPG).

While the surface-level numbers show a massive leap in net income due to the Taubman Realty Group acquisition, the "Lead Analyst" and the "Market Skeptic" dive deeper into the real-world metrics that actually matter. We analyze the record $4.8 billion in Real Estate FFO, the rising dividend, and the high-leverage "cracks in the armor" like the 11.2 debt-to-equity ratio.

In this breakdown:

The Hook: Why SPG’s revenue beat expectations by nearly $300 million.

The Drill Down: Analyzing the 96.4% occupancy and the 8.1% jump in retailer sales.

The Verdict: Is the 2026 guidance of $13.00–$13.25 FFO per share a sign of a solid foundation or a looming trap?

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