Simon Property (SPG) Up on Q1 FFO Beat, Outlook & Dividend Raise [Yahoo! Finance]
Simon Property Group, Inc. (SPG)
Last simon property group, inc. earnings: 2/4 07:30 am
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Source: Yahoo! Finance
came up with better-than-expected first-quarter funds from operations (FFO) per share yesterday. SPG also increased its 2024 FFO per share outlook and raised its dividend. Simon Property's first-quarter 2024 FFO per share of $3.56 surpassed the Zacks Consensus Estimate of $2.80. Also, the figure increased from $2.74 reported in the year-ago period. Results reflected better-than-anticipated revenues, backed by a rise in the base rent per square foot and occupancy levels. However, higher interest expenses partly offset the upsides. Simon Property experienced a gain of 81 cents per share from the sale of its remaining ownership stake in Authentic Brands Group. Simon Property generated revenues of $1.44 billion in the quarter, which surpassed the Zacks Consensus Estimate of $1.41 billion. The reported figure increased 6.8% year over year. According to David Simon, the chairman, chief executive officer and president of Simon Property Group, "Leasing momentum and cash flow growth co
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SPG
Earnings
- 5/6/24 - Beat
SPG
Sec Filings
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- 5/9/24 - Form 4
- SPG's page on the SEC website