Simon Property Group, Inc.’s SPG second-quarter 2022 comparable funds from operations (FFO) per share of $2.96 exceeded the Zacks Consensus Estimate of $2.91. The figure compares favorably with the year-ago quarter’s $2.92.The quarterly results reflected healthy operating performance and growth in occupancy levels. The retail REIT behemoth also raised the 2022 FFO per share outlook based on the quarterly results. It also announced a hike in the quarterly dividend.Simon Property generated revenues of $1.28 billion in the quarter. While the figure missed the Zacks Consensus Estimate of $1.30 billion, it increased 2% year over year.Inside the HeadlinesSPG reported revenues from lease income of $1.19 billion, marking a 3.1% year-over-year rise. Our estimate for the same was pegged at $1.23 billion.As of Jun 30, 2022, the occupancy for the U.S. Malls and Premium Outlets portfolio came in at 93.9%, up from 91.8% witnessed as of Jun 30, 2021. We had projected the same at 93.6% for the quarter.The base minimum rent per square foot for the U.S. Malls and Premium Outlets portfolio was $54.58 as of Jun 30, 2022. The figure surpassed our estimate of $54.24.SPG’s total operating expenses in the second quarter were $653.1 million, marginally rising from the prior-year quarter’s $649.4 million.The domestic property net operating income (NOI) increased 5.6% year over year while portfolio NOI climbed 6.7%.Balance Sheet PositionSimon Property exited the second quarter of 2022 with $8.5 billion of liquidity. This comprised $1.2 billion of cash in hand, including its share of joint-venture cash, $7.3 billion of available capacity under the company’s revolving credit facilities.Dividend HikeConcurrent with its second-quarter earnings release, Simon Property announced a 2.9% sequential hike in its third-quarter 2022 dividend. The company will now pay $1.75 per share compared with the $1.70 paid earlier. The increased dividend will be paid out on Sep 30 to shareholders on record as of Sep 9, 2022.Share RepurchaseSimon Property's board of directors had authorized a new common stock repurchase program under which the company may repurchase in the open market, block trades or privately negotiated transactions up to $2 billion of its common stock over the next 24 months as market conditions warrant. This program came into effect on May 16, 2022.During the quarter, SPG repurchased 1,424,096 shares of its common stock under this program.Raised 2022 GuidanceSimon Property raised the 2022 FFO per share guidanceIt projects the same in the range of $11.70-$11.77, up from $11.60-$11.75 guided earlier. The Zacks Consensus Estimate for the same is currently pegged at $11.72.Currently, SPG carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Simon Property Group, Inc. Price, Consensus and EPS Surprise Simon Property Group, Inc. price-consensus-eps-surprise-chart | Simon Property Group, Inc. QuotePerformance of Other REITsKimco Realty Corp.’s KIM second-quarter 2022 FFO per diluted share came in at 40 cents, surpassing the Zacks Consensus Estimate of 38 cents. The figure grew 17.6% from the year-ago quarter’s 34 cents.Results reflect year-over-year growth in the top line. The rise in occupancy levels and rental rate growth aided KIM’s performance. It raised 2022 FFO outlook.Boston Properties Inc.’s BXP second-quarter 2022 FFO per share of $1.94 beat the Zacks Consensus Estimate of $1.85. The figure also compared favorably with the year-ago quarter’s $1.72.BXP’s quarterly results reflect growth in the bottom line. Also, it experienced strong leasing activity during the quarter.SITE Centers Corp. SITC reported second-quarter 2022 operating FFO per share of 31 cents, beating the Zacks Consensus Estimate of 28 cents. The figure was in line with the prior-year quarter’s FFO per share.SITC's results were aided by strong top-line growth and an improvement in annualized base rent.Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs. Zacks' Top Picks to Cash in on Electric Vehicles Big money has already been made in the Electric Vehicle (EV) industry. But, the EV revolution has not hit full throttle yet. There is a lot of money to be made as the next push for future technologies ramps up. Zacks’ Special Report reveals 5 picks investorsSee 5 EV Stocks With Extreme Upside Potential >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Boston Properties, Inc. (BXP): Free Stock Analysis Report Kimco Realty Corporation (KIM): Free Stock Analysis Report SITE CENTERS CORP. (SITC): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research