From Financial Modeling Prep: 2024-11-01 11:21:00

Simon Property Group (NYSE:SPG) reported third-quarter results with earnings slightly below expectations at $1.46 per share, missing by $0.01, but revenue exceeded estimates at $1.48 billion. Net income fell to $475.2 million due to a non-cash net loss related to Klépierre exchangeable bonds. Domestic property NOI rose 5.4% year-over-year.

The company’s occupancy at U.S. malls and premium outlets increased to 96.2%, a 1% rise from last year. Simon Property Group projected full-year 2024 earnings guidance of $7.18 to $7.28 per share, surpassing the Street consensus of $6.64. The quarterly dividend was raised to $2.10 per share, a 10.5% increase from last year.



Read more at Financial Modeling Prep:: Simon Property Group Posts Mixed Q3 Results, Hikes…