Simon Property edges up on FFO forecast, dividend increases

SPG

09/05/2022 22:01

** Shares in U.S. mall operator  SPG.N  rise marginally in
extended trading
    ** SPG estimates comparable funds from operations (FFO) of
$11.60-$11.75/shr for year ending Dec. 31 vs. prior range of
$11.50-$11.70/shr  urn:newsml:reuters.com:*:nPn1Cdj9ja
    ** Base minimum rent/sq. ft. was $54.14 at March 31 vs.
$53.91 at Dec. 31 - SPG
    ** Simon's board declares Q2 div of $1.70/shr, a 21.4%
increase from yr earlier
    ** SPG's board authorizes new buyback plan of up to $2
billion of shares over next 24 months
    ** Shares have lost more than quarter of value this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))