For fiscal 2017, American Tower (AMT) expects to report adjusted funds from operations exceeding $2.8 billion. This figure is $55 million, or ~2%, higher than expected by the company.
In April 2017, ten of 17 analysts covering GGP stock issued “buy” or “strong buy” ratings. The remaining seven analysts gave GGP a “hold” rating.
General Growth Properties (GGP) has been paying dividends to its shareholders consistently in every quarter since it raised its dividend 11.1% during 4Q16 to $0.22.
GGP reached a debt-to-equity ratio 2.2x in 2014, its highest in the last five years.
Using its price-to-FFO multiple, GGP stock is trading in line with most of its peers, with the exception of Taubman Centers (TCO).
The hawkish interest rate environment has added to the woes of mall owners as it pressures future borrowers.
President Trump doesn’t appear to be inclined to support a higher minimum wage for workers. This could help retail REITs control their operating expenses, boosting their margins.
During 1Q17, General Growth Properties’ (GGP) occupancy rate (same-store leased percentage) fell to 95.9% from 96.6% in 1Q16.
Mall owners such as GGP (GGP), Simon Property Group (SPG), DDR (DDR), and Kimco Realty (KIM) are redeveloping their vacant areas that were once occupied by anchor tenants.
General Growth Properties (GGP), the country’s largest mall owner, has seen declining revenues for the past few quarters. GGP’s revenues during 1Q17 came in at $566.3 million.
Despite the belief that US malls are giving way to e-commerce, malls are adapting to consumers’ changing needs. Mall owner GGP (GGP) has been able to maintain its earnings streak since 2012.
Analysts gave EQR a mean price target of $65.30, implying a 0.2% fall from its current level of $65.41.
Equity Residential’s (EQR) current price-to-FFO multiple is ~21.0x.
Equity Residential’s effective overall borrowing rate for fiscal 2016 was ~4.5%, close to its 2015 level of ~4.6%.
As a part of its strategy initiated in 2005, Equity Residential (EQR) started to sell off its properties to other REITs located in less-dense regions.
In order to qualify as equities, REITs like Equity Residential (EQR) are required to pay at least 90% of their taxable income to investors in the form of dividends. REITs…
The Fed indicated that it could implement two more rate hikes in 2017. The market speculates one of the rate hikes could occur in June, and the other one is expected to occur around December 2017.
According to preliminary results released by the University of Michigan in May 2017, the consumer sentiment index gained 3.2% year-over-year for May to date, standing at 97.7%.
In 1Q17, Southern California comprised 25% of Equity Residential’s (EQR) total revenues, 19% of its total revenues came from Washington, D.C., and New York comprised 21% of its total revenues.
According to Freddie Mac, approximately 75.4 million Millennials and 74.9 million Baby Boomers are expected to join the pool of customers for apartment units in 2017.