Simon Property Group, Inc. is cautious about its future expectations due to various risks and uncertainties in the retail industry. The company faces intense competition from e-commerce, making it challenging to renew leases and relet vacant space at existing properties on favorable terms. Additionally, the risk of tenant bankruptcy or insolvency, loss of anchor stores or major tenants, and economic downturns caused by inflation, tariffs, recessionary pressures, wars, and supply chain disruptions could negatively impact its operations. The company also faces risks related to security breaches, changes in market interest rates, international activities, and environmental liabilities, among others.