SPG Simon Property Group, Inc.

$SPG — In Q2, management floated an unsent draft press release for a media-network business it couldn't size, and promised more Taubman margin upside with a 120bp comp drag "going away" on schedule. This quarter: Simon Media Network signed its first contracts (dollar figures still undisclosed), the Taubman commentary dropped off now that the comp anniversary rolled out as forecast, and University Village, the quarter's one big acquisition, arrived without a disclosed yield. What delivered: occupancy at 96.5%, tying a decade-high, the same 1,200-lease pace, new-lease rent growth holding at +17% YoY. #TheGapReport

$SPG Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $1.54 down -17.20% YoY • Reported revenue of $1.81B up 13.30% YoY • Simon Property Group increased full-year 2026 Real Estate FFO per diluted share guidance to $13.30$13.40, up $0.10 from previous estimates; net income guidance is $6.32$6.42.

$SPG | SIMON PROPERTY GROUP, INC. Q3 2026 EARNINGS HIGHLIGHTS ◆ FFO: $3.37 vs. $3.32 est. ✅ ◆ Revenue: $1.81B vs. $1.63B est. ✅ ◆ Net Income: $499.0M (-17.7% YoY) ◆ Real Estate FFO: $1.277B (+5.1% YoY) ◆ Operating Income: $804.5M (-1.0% YoY) ◆ Occupancy Rate: 96.5% Key Metrics: ◆ Q3 2026 GAAP net income includes $99.6M non-cash after-tax losses from Klépierre bond mark-to-market and equity security revaluation, reducing EPS by $0.27. ◆ Domestic property NOI rose 6.6% and portfolio NOI rose 6.7% versus the prior year period. ◆ U.S. Malls occupancy reached 96.5%; base minimum rent per sq ft rose 6.1% to $62.75 year-over-year. Forward Guidance: ◆ FY2026 Real Estate FFO per share raised to $13.30-$13.40, up $0.10 from prior estimate of $13.20-$13.30. ◆ FY2026 estimated net income attributable to common stockholders per diluted share: $6.32-$6.42.

$SPG 🤝 Simon Property Group, Inc. announced that a subsidiary entered an agreement to acquire University Village, an open-air retail center in Seattle with more than 100 businesses and services. Selected from hundreds of headlines

$SPG FSP, the most lowest entry cost at .50 cents with a 12x upside just to value it at current book value of $5.58 per share, adjusted book value adding back in depreciation is at $9.45 They own beautiful properties and they are looking to sell the whole company. Ultra cheap. Ridiculously cheap. To cheap. I want to buy the whole company at these prices. To cheap.

$SPG Larry Kudlow same store, retail sales growing 10% year of the year. Our economy is booming. I would expect good earnings from Simon Properties.