Simon Property Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the Full Year Ending December 31, 2017
For the year to date, the company reported, total revenue of $5,435,229,000, operating income of $2,720,828,000, consolidated net income of $2,134,706,000, net income attributable to common stockholders of $1,835,559,000, FFO of the operating partnership of $3,792,951,000, diluted FFO allocable to common stockholders of $3,280,590,000, compared to total revenue of $5,266,103,000, operating income of $2,668,873,000, consolidated net income of $2,139,375,000, net income attributable to common stockholders of $1,824,383,000, FFO of the operating partnership of $3,571,237,000, diluted FFO allocable to common stockholders of $3,057,193,000, for the same period a year ago. Basic and Diluted FFO per share was $10.49 against $9.86 a year ago. Diluted net income attributable to common stockholders was $5.87 against $5.88 a year ago.
For the full year ending December 31, 2017, the company currently estimates net income to be within a range of $6.45 to $6.55 per diluted share for the year ending December 31, 2017 and that FFO will be within a range of $11.45 to $11.55 per diluted share. The reconciliation for the expected range of estimated net income available to common stockholders per diluted share to estimated FFO per diluted share: Estimated net income available to common stockholders per diluted share from $6.45 to $6.55, depreciation and amortization including Simon's share of unconsolidated entities from $5.00 to $5.00, estimated FFO per diluted share from $11.45 to $11.55.