GGP Q2 Company FFO Rises

(RTTNews) - GGP Inc. (GGP) reported that its Company Funds From Operations For the three months ended June 30, 2018 was $347.2 million, or $0.36 per share, as compared to $334.7 million, or $0.35 per share, in the prior year period.

Net income attributable to common stockholders declined to $89.63 million, or $0.09 per share, as compared to $121.88 million, or $0.13 per share, in the prior year period, due to a one-time gain on debt extinguishment in the prior year.

Total revenues for the quarter rose to $583.14 million from $555.80 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.10 per share and revenues of $550.98 million for the quarter. Analysts' estimates typically exclude special items.

The Board of Directors declared a quarterly dividend on the 6.375% Series A Cumulative Redeemable Preferred Stock of $0.3984 per share payable on October 1, 2018, to stockholders of record on September 17, 2018.