UPDATE: Simon Property Posts Upbeat Q4 FFO, Lifts Dividend

Simon Property Group

reported a 21.9% rise in its fourth-quarter key earnings measure and also lifted its dividend. Simon's quarterly funds from operations surged to $827.4 million, or $2.29 per share, versus $678.9 million, or $1.91 per share, in the year-ago period. Its revenue climbed to $1.34 billion from $1.17 billion. However, analysts were expecting FFO of $2.17 per share. Simon lifted its quarterly dividend to $1.15 a share, versus $1.10 a share. Simon shares closed at $161.97 on Friday.