Simon Property Group Raises 2018 Guidance - Quick Facts

(RTTNews) - Simon Property Group (SPG) announced the company currently estimates net income to be within a range of $7.50 to $7.54 per diluted share for the year ending December 31, 2018 and that FFO will be within a range of $12.09 to $12.13 per diluted share.

Simon's Board declared a quarterly common stock dividend of $2.00 per share. This is an 8.1% increase year-over-year. The dividend will be payable on November 30, 2018 to shareholders of record on November 16, 2018. The company will pay $7.90 per share in common stock dividends in 2018, a 10.5% increase year-over-year.

For the third-quarter, funds from operations was $1.086 billion, or $3.05 per diluted share, as compared to $1.035 billion, or $2.89 per diluted share, in the prior year period, an increase of 5.5% per diluted share.