Nov 1, 06:54 PM

Simon Property Group Q3 Revenue $1.48B, EPS $2.84 Misses; Ingersoll Rand Revenue $1.86B Misses by $9M, EPS $0.84 Beats

Simon Property Group reported its Q3 2024 earnings, revealing a revenue of $1.48 billion, a 4.96% increase year-over-year, which beat estimates by $21 million. However, the company’s earnings per share (EPS) of $2.84 fell short of expectations, declining 11.25% year-over-year and missing by $0.16. In the multifamily real estate sector, Ingersoll Rand announced its quarterly earnings with a revenue of $1.86 billion, a 7.02% increase year-over-year, but missed estimates by $9 million. The company’s EPS of $0.84 was a 9.09% increase year-over-year, surpassing estimates by $0.03. Additionally, Camden Property Trust (CPT) reported a deceleration in rental growth, with blended lease rates showing a decline of 1.7% in October. Meanwhile, MAA, the largest apartment REIT, noted better-than-expected occupancy and collections despite facing new lease rent cuts. Erie Indemnity Company reported revenue of $999.89 million, a 16.41% year-over-year increase, beating estimates by $14.79 million, with an EPS of $3.06, which also exceeded estimates by $0.04.

#Simon Property Group #Ingersoll Rand #Camden Property Trust #CPT #MAA #Erie Indemnity Company

Written with ChatGPT (GPT-4o mini).

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