(To read more on the debt and equity markets, click here.)
INDIANAPOLIS-Simon Property Group Inc. achieved increases in FFOand net income, driving the REIT to raise its earnings guidance forthe year to diluted FFO of $5.25 to $5.33 per share.
The news pleased Wall Street analysts. For example, Bank ofAmerica analyst Russ Nussbaum wrote in a research brief: "Simonremains our top pick in the mall sector. The stock tradesessentially in line with its mall peers on forward annual FFO andin line with forward net asset value. A premium valuation isjustified, in our view, however, given the growth profile,high-quality portfolio, above-average geographic and assetdiversification, strong balance sheet, clear earnings visibilityand large development pipeline."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
