Reported 25 days ago
Simon Property Group reported third-quarter funds from operations (FFO) of $2.84 per share, missing market expectations of $3.03 and down from $3.20 a year ago. The dip was attributed to weaker leasing demand at its shopping centers, despite a slight revenue increase from lease income to $1.34 billion. Occupancy rates rose to 96.2%, and base minimum rent grew by 2.3%. SPG's shares fell 1% in premarket trading but have increased 20% this year.
Source: YAHOO