Simon Stats Reflect Retail’s Resiliency in Q1

Simon says its malls and outlet centers are doing just fine, thank you. That outlook is backed by statistics the real estate investment trust disclosed in the press release for its financial performance for the first quarter of this year, in which it also disclosed a higher earnings estimate for the coming year and raised its quarterly shareholder dividend.

Here are the three measures the REIT spelled out in its financial results statement:

• Reported retailer sales per square foot was $819 for the trailing 12 months ended March 31, up 11.8% from the comparable period a year earlier.
• Base minimum rent per square foot of $61.99, up 5.2%.
• Occupancy as of March 31 edged up to 96.0%, up 0.1%.

“Our portfolio delivered strong operating performance, supported by continued leasing momentum, retailer sales and traffic increases, disciplined capital allocation and growth in cash flow,” said Eli Simon, the REIT’s President, CEO and COO. “Today, we increased our full-year 2026 Real Estate FFO per share guidance and raised our quarterly dividend.”

The Indianapolis-based REIT operates about 235 properties under the Simon Mall, Mills and Premium Outlets names. Just over 200 of those shopping destinations are in the U.S.; it also has operations in Canada, Mexico, Europe and Asia.