08:36 AM EDT, 11/01/2024 (MT Newswires) -- Simon Property Group ( SPG ) reported Q3 funds from operations Friday of $2.84 per diluted share, down from $3.20 a year earlier.

Analysts polled by Capital IQ expected $3.03.

Revenue for the quarter ended Sept. 30 was $1.48 billion, up from $1.41 billion a year earlier.

Four analysts surveyed by Capital IQ expected $1.32 billion.

For 2024, the real estate investment trust lowered its FFO guidance to between $12.66 and $12.76 per share from a previous outlook of $12.80 to $12.90. Analysts polled by Capital IQ expect $12.85.

The company also raised its quarterly dividend to $2.10, payable Dec. 30 to shareholders of record as of Dec. 9.

Price: 171.96, Change: -0.12, Percent Change: -0.07