Simon Profit Dips in Second Quarter

Simon recently opened outlets in South Korea and France.

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Indianapolis-based Simon Property Group (NYSE: SPG) is reporting second quarter Funds from Operations of $953 million, down from $955 million during the same period the previous year. The Real Estate Investment Trust is also reporting net income of $455 million, down from $473 million in the second quarter of 2015.

Chairman and Chief Executive Officer David Simon says despite the dip, it was an excellent second quarter for Simon, "with strong financial and operational performance, the opening of a new outlet center, the groundbreaking for our second Premium Outlet in Malaysia, and the acquisition of The Shops at Crystals, a highly productive center."

The results follow a strong first quarter for Simon. You can view the full second quarter results by clicking here.