Simon Properties beats by $0.02, beats on revs; reaffirms FY19 FFO guidance (175.75)
- Reports Q1 (Mar) funds from operations of $3.04 per share, $0.02 better than the S&P Capital IQ Consensus of $3.02; revenues rose 4.2% year/year to $1.45 bln vs the $1.43 bln S&P Capital IQ Consensus.
- Reported retailer sales per square foot was $660, an increase of 3.1%, for the trailing 12-months ended March 31, 2019. Occupancy was 95.1% at March 31, 2019, compared to 94.6% at March 31, 2018.
- Co reaffirms guidance for FY19, sees FFO of $12.30-12.40 vs. $12.48 S&P Capital IQ Consensus