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Simon Property 2008 outlook disappoints
Mall real estate investment trust Simon Property Group Inc. on Friday offered 2008 guidance that fell below Wall Street's expectations.

The REIT said it expect 2008 funds from operation, or FFO, between $6.25 per share and $6.45 per share. On average, analysts polled by Thomson Financial are forecasting $6.46 per share.

FFO, which the real estate industry uses to gauge operating performance, adds depreciation and amortization expenses, as well as other nonoperating items, back to net income.

Simon Property said the estimates reflect completion of current development projects, no future acquisitions or sales, the potential for modest increases in store closings and bankruptcies and flat retail sales.

The REIT's shares were unchanged at $89.38 in morning trading.
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080201&id=8128686