Operating Performance Supports Westfield’s Reweighting to Flagship; FVE Falls to AUD 10.40
Westfield reported first-half 2016 funds from operations, or FFO, of USD 342 million, or USD 16.46 cents per security, down 9.9% on the USD 18.27 cents per security in the previous corresponding period. The decline is broadly consistent with expectations, reflecting USD 1.3 billion of asset sales in 2015, detracting USD 3.5 cents per security before capital redeployment and significant loss of rent receipts on Century City (West Los Angeles), with roughly two thirds of the shops being demolished...Westfield is engaged in the ownership, development, design, construction, asset management, leasing and marketing activities with respect to its U.S. and U.K. portfolio. Co.'s operational segment comprises the property investment and the property and project management segments. Property investments segment includes activities related to existing shopping centres and completed developments. Property and project management segment includes property management and development for third parties.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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