Simon Property Lifts FY21 Profit Outlook, Shares Up Nearly 4%

(RTTNews) - Shares of Simon Property Group, Inc. (SPG) gained nearly 4% in extended trading hours on Monday after the company lifted its full year earnings outlook.

The company currently estimates earnings of $6.61 to $6.71 per share and FFO of $11.55 to $11.65 per share.

Previously, the company estimated earnings of $5.47 to $5.57 per share and funds from operations of $10.70 to $10.80 per share for the full year 2021.

Analysts currently expects earnings of $5.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

SPG closed Monday's trading at $149.36, down $2.78 or 1.90%, on the NYSE. The stock further gained $5.64 or 3.78% in the after-hours trading.