INDIANAPOLIS-Retail giant Simon Property Group, based here, beatanalyst expectations with its recent second quarter report. Thecompany reported that FFO improved from $313.1 million in Q2 2009to $487.7 million this recent quarter, or about $1.38 pershare.

Analysts predicted the company would only hit $1.34 per shareFFO. Simon also reported that net income improved to $152.5 millionfrom a $20.8 million loss same time last year.

David Simon, CEO, said during a Q2 conference call Friday thathe thinks that an uncertain economic macro environment stillexists. However, there’s still work to do, he said. “We have a, I'dsay, roughly 20 potential transformational redevelopments thatwe've been working on. We essentially put them on hold, obviously,last year. And we have reinvigorated the company to pursue those.And I think they're very exciting. It'll add a lot of opportunityfor our company, and we're going to accelerate that process. Andthey go from South Hills in Pittsburgh; to Plaza Carolina in PuertoRico; to La Plaza in McAllen, TX; Dadeland; Del Amo; Nanuet;Roswell Field; the Walt Whitman. So there's a lot that we areexcited about internally that we've kind of said, let's get startedon.”