Simon funds from operations moves up

July 30, 2007
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.

Source: XMLFULL/XMLFull3369.xml

Recent Articles by IBJ Staff

Comments powered by Disqus