Simon Property Reports Better Than Expected FFO, Raises Forecast and Dividend

Published on Tue, 07/24/2012 - 11:13
By FNNO Staff in General Interest, SPG, analysis, business, earnings, eps, finance, fnno, news, nyse:spg, revenue, simon property group, stock market, trading, Earnings Reports
analysis, business, earnings, eps, finance, fnno, news, nyse:spg, revenue, stock market, trading, simon property group

7-24-2012- From Fnno.com, you're watching the Financial News Network. Simon Property Group (NYSE:SPG) announcing its earnings this morning. The largest U.S. owner of malls and outlet centers reported second quarter funds from operations at $1.89 per share, higher than what analysts were expecting of $1.65. Revenue for the quarter rose 14% from last year to $1.19 billion, also above the $1.16 billion estimate.

Simon Property also added to the good news by raising its full year forecast for FFO in the range of $7.60 to $7.70. The company also raised its dividend for the fourth consecutive quarter to $1.05 per share.

Simon Property Group is climbing on this news. Its stock is currently up over one and a half percent. For more coverage of the business world, follow us on Twitter @FNNOnline, or check out our website at fnno.com.

By FNNO Staff
fnnonline@gmail.com

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