The Macerich Co., owner of Southridge Mall in Des Moines, said funds from operations at shopping malls it owns across the country increased to $118.8 million in the quarter ended Dec. 31, from $108.9 million in the year-earlier quarter.

Net income available to common stockholders was $163.1 million, or$1.23 per share compared with $23.6 million, or 18 cents per share, the prior year.

Macerich said mall tenant annual sales per square foot increased 12.9 percent to $489 from $433 a year earlier.

The company also said it acquired 100 percent ownership of Southridge in an agreement to distribute ownership interests with its venture capital partner.

The transfer also included NorthPark Mall in Davenport and SouthPark Mall in Moline, Ill. Macerich took full ownership of six of the 11 malls included in the deal and realized a net gain of $183.3 million compared with the book value of the company’s interest in the former partnership.