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

The real estate investment trust, based in Indianapolis, said it had funds from operations of $786.6 million, or $2.17 per share, in the period.

The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of $2.19 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 $271.5 million, or 86 cents per share.

The shopping mall real estate investment trust posted revenue of $1.13 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.14 billion.

For the year, the company reported funds from operations of $3.24 billion, or $9.11 per share. Revenue was reported as $4.61 billion.

Simon Property expects full-year funds from operations to be $9.50 to $9.75 per share.

The company's shares have climbed 16% since the beginning of the year, while the Standard & Poor's 500 index has increased 4%. In the final minutes of trading on Monday, shares hit $98.94, a decline of 30% in the last 12 months.

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

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