Simon Property Group

Financial | REIT - Retail | USA
Simon Property's (SPG) Q4 FFO & Revenues Miss Estimates

Simon Property Group, Inc. SPG, a retail real estate investment trust (REIT), reported fourth-quarter 2018 funds from operations (FFO) of $3.23 per share, which missed the Zacks Consensus Estimate by a whisker. The FFO per share figure, however, came in 3.5% higher than the year-ago tally.

Results highlight increased occupancy and leasing spread per square foot at the company’s U.S. malls and Premium Outlets. Simon Property also provided its outlook for 2019.

During the reported quarter, the company posted revenues of $1.46 billion, lagging the Zacks Consensus Estimate. However, the revenue figure compares favorably with the year-ago tally of $1.43 billion.

For full-year 2018, FFO per share came in at $12.13, in line with the Zacks Consensus Estimate. The figure also improved 8.2% year over year. Revenues for full-year 2018 improved around 2% year over year to $5.6 billion. However, revenues lagged the Zacks Consensus Estimate of $5.73 billion.

Inside the Headline Numbers

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https://finance.yahoo.com/news/simon-pro...02629.html