Simon Property Group Q2 FFO Declines

(RTTNews) - Simon Property Group (SPG) Tuesday announced a decline in second quarter Funds from operations to $884.7 million or $2.47 per share from $952.9 million or $2.63 per share last year. Net income for the quarter decreased to $381.99 million from $455.39 million a year ago. On a per share basis, earnings declined to $1.23 from $1.45 last year.

Revenue for the quarter was slightly up at $1.361 billion from $1.315 billion a year ago.

The company declared a dividend of $1.80 to shareholders on record August 17, payable on August 31.

Looking ahead to the full year 2017, the company expects net income to be in a range of $6.20 to $6.28 per share and FFO to be within a range of $11.14 to $11.22 per share.