Simon Property Q1 Beat, Raises FFO Guidance

Adjusted EPS $3.17 and revenue $1.76B beat estimates, with net income $479.6M ($1.48/share) up from prior year.
Real Estate FFO $1.208B ($3.17/share) rose 7.5% YoY; revenue grew 19.3% YoY to $1.76B.
FY2026 Real Estate FFO guidance lifted to $13.10‑$13.25 per share; net income guidance $6.61‑$6.76, above consensus.
Occupancy hit 96%, base rent rose 5.2% to $61.99/sq ft, retailer sales up 11.8% to $819/sq ft; dividend increased 7.1% to $2.25.