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Simon Property Group Revises FY22 Outlook

While reporting its results for the second quarter on Monday, real estate investment trust Simon Property Group, Inc. (SPG) lifted its comparable FFO outlook for the full year 2022.

Looking forward, the company currently estimates net income to be within a range of $5.93 to $6.00 per share and comparable FFO to be within a range of $11.70 to $11.77 per share.

Previously, the company expected net income of $5.93 to $6.08 per share and comparable FFO to be within a range of $11.60 to $11.75 per share. The Comparable FFO range is an increase of $0.06 per diluted share at the mid-point compared to the previous guidance.

Analysts polled by Thomson Reuters currently estimate earnings of $5.75 per share for the year.

Simon's Board of Directors declared a quarterly common stock dividend of $1.75 on August 1, 2022, for the third quarter of 2022. This is an increase of $0.25, or 16.7% year-over-year and an increase of $0.05, or 2.9%, from the previous quarter. The dividend will be payable on September 30, 2022 to shareholders of record on September 9, 2022.

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