© Reuters. Inline Q3 an excuse to buy the dip in Ramco-Gershenson
- Q3 operating FFO of $29.6M or $0.34 per share vs. $30M and $0.34 a year ago. Estimates were for $0.34.
- Same-property NOI growth of 1.4%, with rent growth of 2.7%.
- Portfolio leased occupancy of 93% down 120 basis points Y/Y.
- 38 comparable leases signed during quarter totaling 193.6K square feet at a positive leasing spread of 12.3%, average base rent of $20.67 per square foot.
- Full-year operating FFO per share guidance is narrowed to $1.35-$1.37 (midpoint remains the same). NOI growth remains at 2.5-3%.
- Previously: Ramco Gershenson Properties FFO in-line, misses on revenue (Oct. 31)
- RPT +2.85% today, down 21.6% YTD.
- Now read: Ramco Gershenson Properties Trust 2017 Q3 – Results – Earnings Call Slides