Simon Property Group (SPG) reported Q1 funds from operations late Monday of $2.67 per diluted share, down from $3.56 a year earlier.
Analysts polled by FactSet expected $2.91.
Revenue for the quarter ended March 31 was $1.47 billion, up from $1.44 billion a year earlier.
Analysts expected $1.35 billion.
For 2025, the real estate investment trust reaffirmed its guidance, expecting funds from operations of $12.40 to $12.65. Analysts are looking for $12.58.
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