REIT Simon Property posts rise in quarterly real estate funds from operations

May 12 (Reuters) - Simon Property Group SPG.N reported a rise in first-quarter real estate funds from operations on Monday, helped by resilient leasing demand at its shopping centers.

The commercial real estate investment trust counts LVMH LVMH.PA, top luxury brand and owner of Louis Vuitton, Christian Dior, Hennessy and Tiffany & Co, among its tenants.

Simon Property Group reported first-quarter real estate FFO, a key measure of performance of a REIT, at $2.95 per share, compared with $2.91 a year earlier.

At the company's U.S. malls and premium shopping outlets, occupancy level as of March 31 was at 95.9%, compared with 95.5% a year ago, while its base minimum rent per square foot rose 2.4% to $58.92.

It maintained 2025 FFO target at $12.40 to $12.65 per share.

The company's first-quarter revenue from lease income was $1.37 billion, while analysts expected $1.36 billion, according to data compiled by LSEG.