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Indianapolis-based shopping mall owner Simon Property Group Inc. reported today that funds from operations, a common measure of the performance of real estate investment trusts, increased 4.1 percent in the second quarter, to $373 million.
The $1.31 per share in funds from operations was less than the $1.33 anticipated by analysts surveyed by Thomson Financial.
On July 27, Simon said its board approved buying back as much as $1 billion of its stock over the next two years. Simon shares have trended down to about $86 from $123 in February.
The shares are up 81 cents today, to $85.70.
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