Simon Property Group Q2 FFO Rises

(RTTNews) - Simon Property Group, Inc. (SPG), Monday reported second-quarter funds from operations of $1.09 billion, or $2.90 a share, compared to $1.08 billion, or $2.88 a share in prior year.

Earnings attributable to stockholders was $493.5 million, or $1.51 per share, compared to $486.3 million, or $1.49 per share last year.

Analysts, on average, polled by Thomson Reuters expected earnings of $1.51 per share for the period.

Revenue increased to $1.46 billion from last year's $1.37 billion.

The company also announced a quarterly common stock dividend of $2.05 for the third quarter of 2024.

Looking ahead, the company now anticipates FFO of $12.80 to $12.90 per share, and earnings of $7.37 to $7.47 per share for the fiscal year 2024.