Friday, Simon Property Group Inc. (SPG) reported fourth-quarter funds from operations or FFO of $485.23 million or $1.40 per share, compared to $540.53 million or $1.86 per share in the same quarter last year.
On an adjusted basis, FFO was $573.3 million or $1.66 per share for the quarter. Adjusted FFO excludes the impact of non-cash impairment charges.
Net income attributable to common stockholders was $91.5 million or $0.32 per share, compared to $145.20 million or $0.64 per share in the year ago quarter.
On an adjusted basis, net income attributable to common stockholders was $164.8 million or $0.58 per share for the quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $1.52 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the quarter was $1.028 billion, compared to $1.029 billion in the comparable quarter last year. Analysts expected the company to report revenue of $967.76 million for the quarter.
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