Simon Property Group Q4 FFO Beats View (SPG)

Filed in dividend, Gold Investment, o, shares by on February 4, 2011 0 Comments

Mall-based REIT Simon Property Group, Inc ( SPG ) on Friday said its fourth quarter FFO rose more than 11% from last year, beating analyst estimates. The Indianapolis-based company reported fourth quarter FFO of $638.7 million, or $1.80 per share, compared with $573.4 million, or $1.66 per share, a year earlier. Excluding one-time items, adjusted FFO was $1.78 per share. On average, Wall Street analysts expected a smaller FFO of $1.74 per share. Looking ahead, the company forecast full-year 2011 funds from operations to range from $6.45 to $6.60 per share. Simon Property Group shares rose $2.10, or +2%, in premarket trading Friday. The Bottom Line Shares of Simon Property Group ( SPG ) have a 3.06% dividend yield, based on last night’s closing stock price of $104.70. The stock has technical support in the $95 price area. If the shares can firm up, we see overhead resistance around the $106-$112 price levels. Simon Property Group, Inc ( SPG ) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Simon Property Group Q4 FFO Beats View (SPG)

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