Simon Property Group Inc. (NYSE:SPG) reported its second-quarter financial results Monday. Here's a look at the key metrics for the quarter.

The Details: Simon Property Group reported quarterly earnings of $2.90 per share, which missed the analyst consensus estimate of $2.94 by 1.36%. Quarterly revenue came in at $1.45 billion which beat the analyst consensus estimate of $1.3 billion by 11.34% and represents a 5.87% increase over the same period last year.

The company reported occupancy of 95.6% compared to 94.7% from the same period last year, and $557.94 base minimum rent per square foot, an increase of 3% year-over-year. Reported retailer sales per square foot was $741 for the trailing 12 months ended June 30, 2024.

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Simon raised its quarterly dividend from $1.95 to $2.05 per share.

Outlook: Simon sees full-year funds from operations (FFO) of between $12.80 and $12.90, versus the $12.49 estimate.

SPG Price Action: According to Benzinga Pro, Simon Property Group shares are down 1.05% after-hours at $146.50 at the time of publication Monday.

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