$GGP (General Growth Properties, Inc)

$GGP {{ '2015-12-10T19:20:18+0000' | timeago}} • SEC

On Sept. 17, 2015, $GGP entered into a promissory note with its JV partner Ashkenazy Holding (AHC), in which $GGP lent $40.4MM that bears interest at 6% per annum. The note is collateralized by AHC's equity in Miami Design District Associates. By Aug. 15, 2016, $GGP has an option to purchase the collateral in exchange for cancellation of the note.

$GGP {{ '2017-05-22T13:46:05+0000' | timeago}} • Announcement

Retail real estate company $GGP announced its partnership with specialty retailer of sweets, Lolli & Pops, Inc., to open 30 new locations.

$GGP {{ '2017-05-01T14:14:38+0000' | timeago}} • Webcast

$GGP's traffic is steadily building through the year with store traffic being up in the shopping centers during 1Q17. The company said that January had 30% of traffic, Feb. had 30% and March had 40%. April is building ahead of March and centers are performing well, added the company.

$SRG {{ '2017-05-01T14:00:45+0000' | timeago}} • Webcast

In terms of $SRG joint venture, $GGP said it has 12 properties under the Seritage JVs, of which four are under constructions. The company said that nine out of the 12 properties are pre-leased, and expects construction at another five properties in the next 12 months.

$GGP {{ '2017-05-01T11:42:45+0000' | timeago}} • Announcement

$GGP expects 2Q17 EPS of $0.09-0.11 and FFO per share of $0.34-0.36. For 2017, $GGP sees EPS of $0.57-0.61 and FFO per share of $1.56-1.60. In addition, $GGP's BoD declared 2Q17 dividend of $0.22 per share, payable on July 28, 2017 to stockholders of record on July 13, 2017. This represents 16% growth over 2Q16.

$GGP {{ '2017-05-01T11:38:12+0000' | timeago}} • Announcement

$GGP reported a drop in 1Q17 earnings due to last year's gain related to the sale of interests in four properties. Net income fell to $110.37MM or $0.11 per share from $195.34MM or $0.20 per share last year. Revenue dropped to $566.33MM from $607.03MM. Funds from operations per share declined to $0.36 from $0.40.

$GGP {{ '2017-01-31T21:20:07+0000' | timeago}} • Webcast

In 2016, $GGP opened approx. 700 new store fronts comprising nearly 3MM square feet. So far in 2017, the company has nearly 400 new store fronts comprising nearly 2MM square feet set to open. Same store net operating income growth for 2017 is expected to be 4-4.5%.

$GGP {{ '2017-01-30T21:40:56+0000' | timeago}} • Announcement

$GGP BoD declared 1Q17 common stock dividend of $0.22 per share payable on April 28, 2017, to stockholders of record on April 13, 2017. This represents an increase of 16% growth over the dividend declared during 1Q16. On January 27, 2017, $GGP paid a special common stock dividend of $0.26 per share to stockholders of record on December 27, 2016.

$GGP {{ '2017-01-30T21:39:14+0000' | timeago}} • Announcement

$GGP's 4Q16 funds from operations (FFO) rose 0.8% YoverY to $412MM, or $0.43 per share compared to $408MM, or $0.43 per share during 4Q15. Same store net operating income during the quarter increased 5.1% YoverY.

$GGP {{ '2017-01-30T21:38:19+0000' | timeago}} • Announcement

Real estate investment trust $GGP reported 22.3% rise in its 4Q16 earnings. The company's net income was $236MM, or $0.24 per share compared to $194MM, or $0.20 per share during 4Q15. Revenue during the quarter fell 5% YoverY to $610MM from $644.6MM during 4Q15.

$GGP {{ '2017-01-18T11:13:25+0000' | timeago}} • Announcement

$GGP said it will officially change its name to GGP Inc. Founded in 1954, the company was a real estate developer of grocery anchor strip centers. Acquiring its first shopping center two years later, $GGP would evolve into one of the preeminent developers of regional shopping centers that would define the retail landscape in the United States.

$GGP {{ '2016-12-16T00:30:58+0000' | timeago}} • Announcement

$GGP said it promoted Shobi Khan as President and COO, effective immediately, who will report directly to CEO Sandeep Mathrani.

$GGP {{ '2016-12-13T23:21:43+0000' | timeago}} • Announcement

$GGP said its BoD declared a special cash dividend of $0.26 per common share, payable on Jan. 27, 2017, to each holder of record at the close of business on Dec. 27, 2016.

$GGP {{ '2016-11-01T17:54:31+0000' | timeago}} • Webcast

$GGP said that on Riverchase and Harborplace assets, the company has the option to purchase Riverchase from its partners. The company expects to take a decision on it shortly. On Harborplace, $GGP is working through some conditions with Citi and once those conditions are resolved the company would continue with the marketing process.

$GGP {{ '2016-11-01T17:37:12+0000' | timeago}} • Webcast

$GGP commented that it expects to start construction on the Tysons Galleria redevelopment work sometime in late 2018 or early 2019 time frame. The property is expected to open in the year 2020 or 2021. The company added that its initial plan is to have more specialty shop space in the property.

$GGP {{ '2016-10-31T20:25:17+0000' | timeago}} • Announcement

$GGP expects 4Q16 EPS of $0.21-0.23 and funds from operations per share of $0.42-0.44. For FY16, the company increased its EPS guidance to $1.29-1.31 from prior estimate of $0.68-0.72, while narrowing its FFO per share outlook to $1.52-1.54 from prior range of $1.51-1.55.

$GGP {{ '2016-10-31T20:22:18+0000' | timeago}} • Announcement

$GGP's funds from operations for 3Q16 was $336MM or $0.35 per share, down from $341MM or $0.36 per share in the previous year quarter. The company's same-store net operating income increased by 3.8% from last year.

$GGP {{ '2016-10-31T20:20:11+0000' | timeago}} • Announcement

Real estate investment trust $GGP reported a jump in 3Q16 earnings driven by gains related to sales of a partial interest in two properties. Net income rose to $670.2MM or $0.70 per share from $119.9MM or $0.13 per share last year. Revenue fell to $554.5MM from $585.3MM.

$GGP {{ '2016-09-16T06:40:36+0000' | timeago}} • Announcement

Retail properties owner $GGP said a consortium including it along with Authentic Brands Group (ABG) and $SPG has acquired Aeropostale, an apparel and accessories brand. Aeropostale will continue to be available in over 700 retail doors around the world. The terms of acquisition were not disclosed.

$GGP {{ '2016-08-02T15:56:59+0000' | timeago}} • Webcast

$GGP said that from the asset sales transactions done during 2Q16 and subsequent to end of the quarter, it received net proceeds of approx. $1Bil. The company will use approx. $300MM of the proceeds to pay down mortgage debt and $90MM for paying down its debt outstanding. $GGP plans to retain the remaining proceeds of approx. $600MM.

$GGP {{ '2016-08-02T15:34:36+0000' | timeago}} • Webcast

$GGP said that it recently entered into an agreement to sell the shares of Aliansce, a Brazilian shopping mall, to an institutional buyer for approx. $85MM. Upon closing, which is expected to happen later this quarter, $GGP would have no remaining interest in Aliansce. This transaction is excluded in the write-down and markup from company FFO.

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