Simon Q4 FFO Increases

(RTTNews) - Simon Property Group (SPG), a real estate investment trust, announced an increase in funds from operations for the fourth quarter.

For the fourth quarter, FFO rose to $1.382 billion or $3.69 per share, compared to $1.274 billion or $3.40 per share last year.

Profit grew to $747.5 million or $2.29 per share, from last year's $673.8 million or $2.06 per share.

On average, analysts polled by Thomson Reuters estimated a profit of $1.86 per share for the period.

Revenue increased to $1.527 billion from $1.399 billion prior year.

Looking ahead, Simon expects a profit of $6.45 to $6.70 per share and an FFO of $11.85 to $12.10 per share for the fiscal year 2024.