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Company Earning Updates 3 minutes

Brookfield Property Partners (NASDAQ: BPY) 2Q19 Results: Revenue Increases, FFO Beats Estimates

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Coresight Research

Key Points

  • Brookfield reported 2Q19 FFO per unit of $0.38, up 5.6%, beating the consensus estimate of $0.36. Net income was $0.12 per unit, down 82%.
  • Core retail reached a 95% occupancy rate. The company expects the rate to increase through the remainder of the year to 96%. NOI-weighted sales per square foot were $777, up 5.2% year over year.
  • During the quarter, the company completed $326 million of gross asset dispositions, at prices 9% higher than their International Financial Reporting Standards (IFRS) value.

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