Simon Property Group raises full-year guidance after Q3 beat

|About: Simon Property Group, Inc. (SPG)|By:, SA News Editor

Q3 FFO of $918.7M or $2.54 per share vs. $689.4M and $1.90 one year ago. Q3 one year ago included one item costing the company $127.6M or $0.35 per share. Dividend was $1.55 and has been raised to $1.60.

Occupancy of 96.1% down 80 basis points from a year ago. Base minimum rent per square foot of $48.57 up 4.9%. Releasing spread per square foot of $11 up $1.33. Total sales per square foot of $616 up 0.5%.

Comparable property NOI growth of 4.3%.

Full-year GGO per share guidance is lifted at both ends to $10.10-$10.15 per share.

Conference call at 11 ET

Previously: Simon Property beats by $0.07, beats on revenue (Oct. 27)

SPG flat premarket

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