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Simon Property (SPG) Q4 FFO In Line, Dividend Up - Tale of the Tape

Zacks Equity Research
Updated

Have you been eager to see how Simon Property Group Inc. (SPG) performed in Q4 in comparison with the market expectations? Let’s quickly scan through the key facts from this Indianapolis, IN-based, retail real estate investment trust’s (“REIT”) earnings release this morning:

 

An In Line FFO

 

Simon Property came out with comparable funds from operations (“FFO”) per share of $2.47 cents, in line with the Zacks Consensus Estimate.

 

Higher net operating income and occupancy aided the results.

 

How Was the Earnings Surprise Trend?

 

Simon Property has a decent earnings surprise history. Before posting an earnings beat in Q4, the company delivered positive surprises in three out of trailing four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.72% in the trailing four quarters, prior to this earning.

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Revenue Came In Lower Than Expected   

 

Simon Property posted revenues of $1.30 billion, which missed the Zacks Consensus Estimate of $1.35 billion. However, it compared favorably with the year-ago number of $1.25 billion.

 

Key Developments to Note:

 

Simon Property produced strong operating results in the quarter, driven by rise in comparable net operating income and occupancy.  The company also announced a 7.7% increase in quarterly dividend to $1.40 per share.

 

What Zacks Rank Says

 

Simon Property currently has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

 

Check back later for our full write up on this Simon Property earnings report later!

 

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.

 

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
SIMON PROPERTY (SPG): Free Stock Analysis Report
 
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Zacks Investment Research