Simon Property Group (NYSE: SPG) is slated to report second-quarter 2024 results on Aug 5, after market close. The company's quarterly results are likely to display year-over-year growth in revenues and funds from operations (FFO) per share. In the last reported quarter, this Indianapolis, IN-based retail real estate investment trust (REIT) delivered a surprise of 27.1% in terms of FFO per share. Results reflected better-than-anticipated revenues, backed by a rise in the base rent per square foot and occupancy levels. However, higher interest expenses partly offset the upsides. Over the preceding four quarters, Simon Property's FFO per share surpassed the Zacks Consensus Estimate on three occasions and missed on remaining period, the average surprise being 11%. This is depicted in the graph below: Simon Property Group, Inc. Price and EPS Surprise Simon Property Group, Inc. price-eps-surprise | Simon Property Group, Inc. Quote In this article, we will dive deep into the U.S. retail real estate market environment and the company's fundamentals and analyze the factors that may have contributed to its second-quarter 2024 performance. U.S. Retail Real Estate Market in Q2 Per a Cushman & Wakefield CWK report, although gains in real income and employment continue to support consumer spending, the growth rate has decelerated and become more uneven in recent months. On a year-over-year basis, the national retail vacancy rate remained unchanged at 5.3% in the second quarter. The vacancy rate was steady for the third consecutive quarter and was among the lowest rates since ...