Commercial real estate investment trust Simon Property Group raised full-year forecast for real estate funds from operations on Monday, driven by resilient leasing demand across its shopping centers.

The mall operator, which counts LVMH , the luxury conglomerate behind Louis Vuitton and Tiffany & Co, among its tenants, expects 2025 real estate FFO, a key performance metric for REITs, to be between $12.60 and $12.70 per share. That compares with its previous target of $12.45 to $12.65 per share.

Peer Regency Centers also raised its annual FFO target last week, citing strong leasing demand.

Simon Property's occupancy at malls and premium outlets was 96.4% at September 30, 2025, compared with 96.2% at September 30, 2024.

Its base minimum rent per square foot rose to $59.14 from $57.

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