WASHINGTON (dpa-AFX) - Simon Property Group Inc. (SPG) Friday announced higher fourth-quarter funds from operations, or FFO, of $678.9 million, or $1.91 per share, compared to last year's $638.7 million, or $1.80 per share. Twenty-one analysts polled by Thomson Reuters estimated FFO of $1.90 per share. Analysts' estimates usually exclude special items. Quarterly revenues improved to $1.17 billion from $1.12 billion with minimum rent revenues rising to $706.1 million from $672.6 million. Six analysts polled by Thomson Reuters estimated revenues of $1.16 billion. Looking ahead, the company anticipates 2012 FFO in the range of $7.20 to $7.30 per share. Consensus of analysts' estimates currently sees FFO of $7.28 per share. Also, the Board has recommended hiking the quarterly dividend by 5.6 percent to $0.95 per share, with a pay date of February 29, 2012 for shareholders who are on the records as of February 15, 2012.
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