Debt And Earnings ImpactSPG has about $10bn of low cost debt maturing in 2025-2026, which is likely to dilute earnings.
Earnings4Q FFO per share of ~$3.39, excluding one-time items, was below consensus estimates.
Stock ValuationAnalyst remains Neutral on SPG as its growth prospects are reflected in its current stock price, trading at a premium to its 5-year average.