Simon Property reported second-quarter funds from operations of $3.29 per share, topping the Zacks Consensus Estimate of $3.18 per share and up from $3.05 a year ago. Revenue reached $1.79 billion, exceeding the consensus estimate by 4.49% and rising from $1.5 billion in the prior-year quarter. The company has now beaten consensus FFO and revenue estimates in each of the last four quarters. Shares have gained about 20.4% year-to-date, outpacing the S&P 500's 13.3% advance.
Simon Property Group IncQ2 FFO and revenue beat estimates, marking fourth consecutive quarter of outperformance.
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