Simon Property Group (SPG) Tops Q1 EPS by 8c; offers guidance

Simon Property Group (NYSE: SPG) reported Q1 EPS of $1.44, $0.08 better than the analyst estimate of $1.36. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.31 billion.

GUIDANCE:

Simon Property Group sees FY2024 EPS of $7.38-$7.53, versus the consensus of $6.13.

Estimated FFO per diluted share of $12.75- $12.90

Board of Directors declared a quarterly common stock dividend of $2.00 for the second quarter of 2024. This is an increase of $0.15, or 8.1% year-over-year. The dividend will be payable on June 28, 2024 to shareholders of record on June 7, 2024.

Simon\'s Board of Directors declared the quarterly dividend on its 8 3/8% Series J Cumulative Redeemable Preferred Stock (NYSE: SPGPrJ) of $1.046875 per share, payable on June 28, 2024 to shareholders of record on June 14, 2024.

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

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