Simon Property Group Issues FY22 Profit Outlook

(RTTNews) - While reporting its fourth-quarter results, Simon Property Group Inc (SPG) issued an outlook for the full-year 2022.

The company currently estimates net income to be within a range of $5.90 to $6.10 per share and FFO to be in a range of $11.50 to $11.70 per share. Analysts polled by Thomson Reuters currently estimate earnings of $6.10 per share for the year.

The company also reported fourth-quarter profit of $503.24 million or $1.53 per share, up from $271.48 million or $0.86 per share last year.

FFO was $1.160 billion or $3.09 per share for the quarter, up from $786.6 million or $2.17 per share last year.

The company's revenue for the quarter to $1.33 billion from $1.13 billion last year.

Analysts had expected earnings of $1.44 per share on revenues of $1.24 billion for the quarter.