real-time news and commentary for investors
Tuesday, Oct 29
Solid results at GGP boosts shares
- Adjusted FFO of $0.29 per share is up 26% from a year ago. Comparable NOI for regional mall portfolio of $521M up 6.8%.
- Tenant sales up 3.8% to $562 per square foot. Mall lease percentage of 96.6% is up 110 bps from a year ago. Initial rental rates for leases starting this year up 12.2% to $63.32 per square foot.
- 28.3M shares repurchased at average price of $20 each, included 25M shares bought back from Bill Ackman's Pershing Square for $20 each.
- Quarterly dividend boosted by one penny to $0.14 per share.
- CC is just about to get underway.
- Q3 results, press release.
- GGP +1.5%.