UPDATE: Simon Property Posts Upbeat Q4 FFO, Lifts Dividend
Simon Property Group (NYSE: SPG) reported a 21.9% rise in its fourth-quarter key earnings measure and also lifted its dividend.
Simon's quarterly funds from operations surged to $827.4 million, or $2.29 per share, versus $678.9 million, or $1.91 per share, in the year-ago period.
Its revenue climbed to $1.34 billion from $1.17 billion. However, analysts were expecting FFO of $2.17 per share.
Simon lifted its quarterly dividend to $1.15 a share, versus $1.10 a share.
Simon shares closed at $161.97 on Friday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.