Simon Property Group (SPG) Tops Q3 FFO by 2c; Raises Outlook

Simon Property Group (NYSE: SPG) reported Q3 FFO of $2.70, $0.02 better than the analyst estimate of $2.68.

GUIDANCE:

Simon Property Group sees FY2016 FFO of $10.85-$10.87, versus the consensus of $10.86.

We continue to strengthen our retail real estate platform through transformative redevelopments such as our recently opened expansion at King of Prussia and selected new developments including the highly anticipated Clarksburg Premium Outlets which will open tomorrow and serve the greater Washington D.C. market," said David Simon, Chairman and Chief Executive Officer. "Based upon our results to date and expectations for the remainder of 2016, we are once again increasing our full-year 2016 guidance."

For earnings history and earnings-related data on Simon Property Group (SPG) click here.

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