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GGP Q2 FFO per share trails consensus by a penny

Published 07/31/2018, 08:25 AM
Updated 07/31/2018, 08:25 AM
© Reuters.  GGP Q2 FFO per share trails consensus by a penny
  • GGP (NYSE:GGP) reports Q2 FFO per share of 36 cents, missing consensus by a penny, vs 35 cents a year ago.
  • Q2 same-store net operating income rose 4.6% to $573.9M Y/Y; adjusted company NOI rose 5.2% to $579.0M Y/Y.
  • Adjusted EBITDA increased 7.8% to $546.0M, due to increased management and financing fees combined with lower general and administrative, property management, and other costs.
  • Same-store leased rate was 95.6% and same-store occupied rate was 94.2%.
  • GGP's pending acquisition by Brookfield Property Partners (NYSE:BPY) is expected to close by the end of August.
  • Source: Press Release
  • Previously: GGP misses by $0.01, beats on revenue (July 31)
  • Now read: Why I Still Love Brookfield Property Partners


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