Oct. 31--INDIANAPOLIS -- Indianapolis-based mall and shopping center owner Simon Property Group said Friday that funds from operations rose 1.9 percent during the third quarter, topping analysts' estimates.

The real estate investment trust brought in $473.1 million, although occupancy and comparable sales per square foot fell. That total was up from $463 million during the same period in 2008. "Funds from operations," or FFO, is a measurement for financial performance.

Simon said net income fell 6 percent, from $112.8 million to $105.5 million, with revenues declining to $924.93 million, compared with $935.59 million a year ago, as the country's largest real estate trust deals with an economic recession that forced some retail tenants to close.

On a per-share basis, FFO went from $1.61 per share in the third quarter of 2008 to $1.38 per share this year.

Analysts polled by Thomson Reuters' First Call expected earnings of $1.33 per share for the quarter.

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