Simon Property Group Reports Better-Than-Expected Q4 Results, Raises Quarterly Dividend
Portfolio Pulse from Erica Kollmann
Simon Property Group, Inc. (NYSE:SPG) reported Q4 results surpassing analyst expectations with FFO of $3.69 per share and sales of $1.53 billion. The company raised its quarterly dividend from $1.80 to $1.95 per share and highlighted a record annual FFO of nearly $4.7 billion for 2023. SPG expects FY 2024 net income to range between $6.45 to $6.70 per diluted share. Shares traded up 0.25% after-hours.
February 05, 2024 | 9:45 pm
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Simon Property Group reported strong Q4 results, beating analyst estimates for FFO and sales, and raised its quarterly dividend. The company also provided positive FY 2024 guidance.
The positive earnings report and raised dividend signal strong financial health and operational success, likely leading to increased investor confidence and potential stock price appreciation in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100