Simon Property: Q2 Earnings Snapshot

INDIANAPOLIS (AP) — INDIANAPOLIS (AP) — Simon Property Group Inc. (SPG) on Monday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.

The Indianapolis-based real estate investment trust said it had funds from operations of $1.25 billion, or $3.29 per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of $3.18 per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $482.1 million, or $1.49 per share.

The shopping mall real estate investment trust, based in Indianapolis, posted revenue of $1.79 billion in the period.

Simon Property expects full-year funds from operations in the range of $13.20 to $13.30 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPG at https://www.zacks.com/ap/SPG