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3 minutes

Simon Property Group Inc. (SPG) Fourth-Quarter FY2015 Results: Results Meet Expectations, Guidance Lower Than Expected

Primary Analyst: Coresight Research
Contributors
Primary Analyst: Coresight Research
Insight Report

Executive Summary

  • Real estate investment company Simon Property Group reported fourth-quarter funds from operations (FFO) of $2.40 per share, in line with the consensus estimate of $2.40, but below the $2.47 per share recorded for the same quarter a year ago.
  • Total revenue rose at a favorable rate of 6.4% year over year, to $1.38 billion, meeting the consensus estimate of $1.38 billion.
  • For the fiscal first quarter of 2016, Simon Property Group forecasts FFO in the range of $10.70 to $10.80, lower than the consensus estimate for earnings of $10.89 per share.
  • Simon Property Group declared a dividend of $1.60 per share, an increase of 14.3% year over year.
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