Simon Property Group Q4 FFO Rises - Quick Facts

(RTTNews) - Simon Property Group Inc. (SPG) reported that its fourth-quarter funds from operations was $896.7 million or $2.47 per share, compared to $894.8 million, or $2.47 per share, in the prior year period. Funds from Operations or FFO per share for the quarter includes a $0.04 impact from the Company's share of Klepierre's costs related to both their recent bond tender offer and tender offer for Corio, as well as the unfavorable effects of foreign currency devaluations during the quarter.

Net income attributable to common stockholders increased to $405.0 million, or $1.30 per share, from $381.6 million, or $1.23 per share, in the prior year period.

Total revenue for the quarter rose to $1.297 billion from $1.251 billion in the previous year.

Simon's Board of Directors declared a quarterly common stock dividend of $1.40 per share. This is an increase of $0.10 from the previous quarter, and a year-over-year increase of 12%. The dividend will be payable on February 27, 2015 to stockholders of record on February 13, 2015.

The Company estimates that FFO will be within a range of $9.60 to $9.70 per share for the year ending December 31, 2015, and net income will be within a range of $5.05 to $5.15 per share. Analysts expect annual earnings of $9.80 per share.