Reported 2 months ago
Simon Property Group has revised its annual net income forecast downward and reported disappointing second-quarter funds from operations (FFO). The demand for real estate investment trusts has declined as inflation affects consumer spending, impacting tenants like restaurants and retailers. The company now expects net income per share to be between $7.37 and $7.47, and reported FFO of $2.90, slightly below the anticipated $2.94. However, it raised the lower end of its annual FFO forecast while reporting revenues of $1.46 billion for the quarter.
Source: YAHOO