Simon Property Group reported robust Q2 2024 results, with FFO rising 4.8% year-over-year to $1.09 billion. Diluted FFO per share increased to $2.90 from $2.88 last year. The company's portfolio NOI grew 4.4% for the six-month period, driven by improved operations in domestic and international portfolios.U.S. Malls and Premium Outlets saw positive trends, with average base minimum rent rising 3.0% to $57.94 psf and ending occupancy increasing 0.9% to 95.6% year-over-year. The company maintained a strong financial position with an effective overall borrowing rate of 3.51% on consolidated indebtedness as of June 30, 2024.Simon continued its strategic growth initiatives, acquiring additional interests in properties and forming new joint ventures. The company also completed several financing activities, including the redemption of $600 million in notes and new bond issuances. Looking ahead, Simon raised its quarterly dividend to $2.05 per share for Q3 2024, payable on September 30, 2024.

Simon Property Group reported robust Q2 2024 results, with FFO rising 4.8% year-over-year to $1.09 billion. Diluted FFO per share increased to $2.90 from $2.88 last year. The company's portfolio NOI grew 4.4% for the six-month period, driven by improved operations in domestic and international portfolios.U.S. Malls and Premium Outlets saw positive trends, with average base minimum rent rising 3.0% to $57.94 psf and ending occupancy increasing 0.9% to 95.6% year-over-year. The company maintained a strong financial position with an effective overall borrowing rate of 3.51% on consolidated indebtedness as of June 30, 2024.Simon continued its strategic growth initiatives, acquiring additional interests in properties and forming new joint ventures. The company also completed several financing activities, including the redemption of $600 million in notes and new bond issuances. Looking ahead, Simon raised its quarterly dividend to $2.05 per share for Q3 2024, payable on September 30, 2024.