Simon Property Group’s (SPG) third-quarter funds from operations fell on increased charges, but earnings more than doubled and the company raised its quarterly dividend. The real estate investment trust earned $230.6 million, or 79 cents a share, for the three months ended Sept. 30, up from $105.5 million, or 38 cents a share, a year ago. Funds from operations for the quarter, adjusted to exclude items, increased to $503.6 million, or $1.43 a share, from $473.1 million, or $1.38 a share, a year earlier. Including charges for the early extinguishment of debt, Simon Property reported third-quarter funds from operations of $318.5 million, or 90 cents a share. Revenue for the three months rose about 6% to $979.3 million from $924.9 million a year ago. The company owns or has an interest in 393 retail real estate properties in the U.S. Chairman and Chief Executive David Simon said he was “very pleased” with results, and the mall operator’s tenants saw a 10.6% rise in sales during the quarter, according to Simon. The company’s board elected to raise the quarterly dividend by a third to 80 cents a share, and executives also increased estimates for the full year. Simon Property now expects to report funds from operations of $5.90 to $5.95 a share for 2010, which excludes items and is up from prior estimates. Including items, the company now sees funds from operations of $4.90 to $4.95, with net income of $2.03 to $2.08 a share for the full year. Last week, General Growth Properties (GGP) reported a wider third-quarter loss, as the company racks up expenses to reorganize and exit bankruptcy. The mall owner and operator said core funds from operations, which excludes items, fell to a loss of $29.3 million, or 9 cents a share, from earnings of $88.9 million, or 28 cents a share, a year earlier. Revenue for the three months ended Sept. 30, rose to $769.7 million from nearly $761 million a year ago. Write to Jason Philyaw.