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The Indianapolis company now expects FFO in a range of $7.35 to $7.50 per share, up from a previous forecast of $7.20 to $7.30 per share. Funds from operations, or FFO, adds such items as amortization and depreciation to net income. Analysts surveyed by FactSet predict FFO of $7.31 per share. Last month Simon Property reported that its fourth-quarter FFO climbed as higher rents helped revenue and occupancy rates improved. Simon Property also announced on Thursday that it plans to offer 7 million shares of its common stock. It expects to give the underwriters an option to buy an additional 1.1 million shares to cover any excess demand. In addition, Simon Property Group LP, a majority-owned operating partnership subsidiary, plans to offer $1.5 billion of senior unsecured notes. The company plans to use the offerings' net proceeds to help pay for the Klepierre and Farallon transactions. Simon Property currently had an interest in 337 retail real estate properties in North America and Asia.
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