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Simon Property Group fourth-quarter FFO rises
February 4, 2013 / 12:15 PM / 5 years ago

Simon Property Group fourth-quarter FFO rises

NEW YORK, Feb 4 (Reuters) - Simon Property Group Inc said on Monday a key earnings measure rose in the fourth quarter, helped by higher rents and sales at its malls and outlet centers.

Simon said fourth-quarter funds from operations (FFO) increased to $827.4 million, or $2.29 per share, from $678.9 million, or $1.91 per share, a year earlier. Revenue rose to $1.34 billion from $1.17 billion.

FFO is a real estate investment trust performance measure that usually excludes gains or losses from property sales and removes the income-reducing effect depreciation has on earnings.

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