Simon Property (SPG) Group Raised Its Outlook Again

Simon Property Group reported results for the three months through June 30 and raised its full-year profit guidance for real estate funds from operations. The company’s FFO per diluted share climbed to $3.29 from $3.05 in the prior-year quarter, while net operating income at domestic properties grew 8.5%. Management lifted its full-year real estate FFO range to $13.20 to $13.30 per share, moving the midpoint up by $0.08.
Tenant performance drove much of the improvement. Reported retailer