Q2 FFO of $335M or $0.35 per share vs. $340M and $0.35 a year ago. Estimates were for $0.36.
Same-store NOI as adjusted of $551M up 1.3% Y/Y.
EBITDA of $507M up 1.1%.
Initial NOI weighted rental rates for signed leases starting in the trailing 12 months up 13.4% vs. expiring leases.
NOI weighted sales per square foot (less than 10K sq. ft.) of $705 up 1.7% Y/Y.
Tenant sales (all less anchors) up 0.8% on a LTM basis; excluding apparel up 3.1%.
Q3 FFO guidance of $0.36-$0.38 per share (vs. $0.38 estimate); full-year of $1.56-$1.60 (vs. $1.55 estimate)
Previously: GGP misses by $0.01, beats on revenue (Aug. 2)
GGP flat premarket
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