Transformation still leaves GGP with questionable assets in a tough retail environment.
GGP reported fourth-quarter results with funds from operations of $0.48 per share coming in at the top of management’s previously issued range. No guidance was given for 2018 because the Brookfield deal is in limbo. However, there were obvious signs of slowing in the space. Same-store net operating income increased 1.3% in the fourth quarter compared with the full-year increase of 1.6% against 2016. Management did say it expects 2018 same-store net operating income growth of 2%-3%. Ultimately, w...GGP is a self-administered and self-managed real estate investment trust. The company, through its subsidiaries and affiliates, is an owner and operator of retail properties with a property portfolio primarily comprised of Class A retail real estate. As of Dec 31 2017, the company owned, either entirely or with joint venture partners, 125 retail properties located throughout the U.S. The company provides management and other services to substantially all of its properties, including properties which the company owns through joint venture arrangements. Substantially all of the company's business is conducted through GGP Operating Partnership, LP, GGP Nimbus, LP, and GGP Limited Partnership.
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