RTTNews | Nov 2, 2021 10:09AM EDT

10:09 Tuesday, November 2, 2021 (RTTNews.com) - Shares of real estate investment trust Simon Property Group, Inc. (SPG) are climbing 5 percent on Tuesday's trading as the company reported third-quarter profit, which beat the Street estimates. The company also lifted its full year 2021 earnings outlook.

The company's profit came in at $679.94 million, or $2.07 per share. This compares with $145.93 million, or $0.48 per share, in last year's third quarter.

Excluding items, Simon Property reported adjusted earnings of $1.03 billion or $3.13 per share for the period, while analysts were looking for earnings of $1.09 per share for the period.

Looking ahead, for fiscal 2021, the company currently estimates earnings of $6.61 to $6.71 per share and FFO of $11.55 to $11.65 per share, up from the earlier $5.47 to $5.57 per share and FFO of $10.70 to $10.80 per share.

Analysts currently expects earnings of $5.55 per share for full year 2021.

Currently at $156.91, the stock has traded between $61.64 and $159.62 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3238388/simon-property-rises-5-on-improved-q3-results-raised-fy21-outlook.aspx)

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