SPG Stock: Simon Property Q2 2026 Earnings - The EPS Miss That Was Not One

SPG stock - Simon Property Group, Inc. (NYSE: SPG) Q2 2026 earnings, explained in under a minute. Every screener showed a 15-cent EPS miss. The stock moved one cent across two sessions. FULL SPG BREAKDOWN (14 min): https://youtu.be/-V-espReifc Simon Property Q2 2026 earnings, the numbers: - GAAP diluted EPS $1.49 vs a $1.64 consensus - the 'miss' - Real Estate FFO $3.29 per share vs a $3.18 bar, up 7.9 percent - Total revenue $1.79 billion, up 19.5 percent - Domestic property NOI up 8.5 percent, occupancy 96.0 percent - FY26 Real Estate FFO guidance raised to $13.20 to $13.30 - Q3 dividend raised to $2.25, a 4.08 percent forward yield Why EPS is the wrong number for a REIT: depreciation alone was $1.61 per share, more than the entire $1.49 of reported earnings. Simon prints the bridge itself on page 9 of its earnings release. Our call: HOLD, 3 out of 5 conviction, blended fair value about $205 against the $220.56 August 12 close. Wall Street's average target of roughly $216 is also below the market price. Learn investing free in the Charged Alpha app: https://chargedalpha.com/app?source=youtube&ref=video Educational only. Not financial advice.

Added 13 Aug 2026