Simon is entering 2026 with performance that cements its status as one of the most powerful players in brick-and-mortar retail.
The S&P 100 REIT , known for its premier shopping, dining, entertainment, and mixed-use destinations across North America , Europe, and Asia , closed 2025 with record earnings, strong leasing momentum, and a confident outlook that positions physical retail as a long-term winner.
surged to $4.624 billion , or $14.17 per diluted share, up from $2.368 billion, or $7.26 in 2024 . In the fourth quarter alone, net income climbed to $3.048 billion , or $9.35 per diluted share, compared with $667.2 million , or $2.04 in the prior year period.
A major driver was a non-cash gain of $2.89 billion tied to Simon ’s acquisition of the remaining interest in Taubman Realty Group , reflecting the remeasurement of its previously held equity interest to fair value.
Operationally, Real Estate Funds From Operations (Real Estate FFO) hit a record $4.812 billion , or $12.73 per diluted share for 2025 , a 4.0% year-over-year increase from $4.597 billion, or $12.24 per diluted share.
In the fourth quarter, Real Estate FFO rose to $1.328 billion , o r $3.49 per diluted share, up 4.2% from $1.261 billion , or $3.35 a year earlier…
