Simon Property Group Inc. (SPG) reported first-quarter net income attributable to stockholders of $283.1 million or $0.91 per share, compared to $645.4 million or $2.18 per share, prior year. The company noted that the results for the first quarter of prior year include primarily non-cash net gains from acquisitions and dispositions of $1.39 per share. Funds from operations was $741.9 million or $2.05 per share, compared to $648.7 million or $1.82 per share, prior year. Total revenue rose to $1.22 billion from $1.12 billion last year.
On average, 21 analysts polled by Thomson Reuters expected the company to report profit of $2.01 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $1.19 billion for the quarter. The company updated and raised its guidance for 2013, estimating that FFO will be within a range of $8.50 to $8.60 per share and net income will be within a range of $3.70 to $3.80 per share. Analysts expect the company to report fiscal 2013 profit per share of $8.58.
The company announced that the Board has declared a quarterly common stock dividend of $1.15 per share. The dividend is payable on May 31, 2013 to stockholders of record on May 17, 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.