Rouse Properties, Inc. Plans to Open Stores in 2015 and 2016
Aug 4 15
Rouse Properties, Inc. announced the first new store opening scheduled in the fall of 2015, which is well on the way to completing this project. The company has recently executed leases with P.F. Chang's, which instantly puts a major stamp of approval on this assets, so they're only doing a few select sites per year; and Grimaldi's Pizza, which will open its first store in the state of Alabama. At Southland Mall in Hayward, California, the company executed a 50,000 square foot lease with Dick's Sporting Goods and a 22,000 square-foot lease with Cinemark for a new theater. Both deals are expected to open in the fall of 2016.
Rouse Properties, Inc. Declares Common Stock Dividend, Payable on October 30, 2015; Announces Unaudited Consolidated Results for the Second Quarter and Six Months Ended June 30, 2015; Revises FFO Guidance for the Full Year of 2015
Aug 3 15
On July 30, 2015, Rouse Properties, Inc. board of directors declared a common stock dividend of $0.18 per share payable on October 30, 2015 to stockholders of record on October 15, 2015.
The company announced unaudited consolidated results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues were $72,409,000 compared to $67,790,000 a year ago. Operating income was $12,960,000 compared to $10,677,000 a year ago. Loss from continuing operations before gain (loss) on sale of real estate assets was $659,000 compared to $8,175,000 a year ago. Loss from continuing operations was $673,000 compared to $8,175,000 a year ago. Net loss attributable to the company was $688,000 or $0.01 per basic and diluted share, compared to $8,175,000 or $0.14 per basic and diluted share, a year ago.
For the six months, the company reported total revenues were $146,970,000 compared to $135,628,000 a year ago. Operating income was $21,387,000 compared to $24,017,000 a year ago. Income from continuing operations before gain (loss) on sale of real estate assets was $11,233,000 compared to loss from continuing operations before gain (loss) on sale of real estate assets of $12,601,000 a year ago. Loss from continuing operations was $43,729,000 compared to $12,601,000 a year ago. Net income attributable to the company was $43,720,000 or $0.75 per diluted share, compared to net loss attributable to the company of $12,601,000 or $0.22 per basic and diluted share, a year ago.
The company revised FFO guidance for the full year of 2015. The company is increasing its full year 2015 guidance range for Core FFO by $0.01 to $1.74 to $1.78 per diluted share. Full year guidance assumes the following: Same Property Core NOI growth of 2.5% to 3.75%, general and administrative expense of $25.3 million to $25.8 million, and interest expense of $67.2 million to $67.7 million. The guidance presented does not include the effects of property acquisitions, dispositions, or capital transaction activity completed subsequent to June 30, 2015, except for mortgage refinancing to be completed in the ordinary course of business.
Rouse Properties Signs Lease with Belk to Launch Store at Bel Air in Mobile
Jul 23 15
Rouse Properties reported it has signed a lease with Belk to open a new 237,000-square-foot store at The Shoppes at Bel Air in Mobile, Alabama. In a release, the company noted that Belk will be taking the place of an existing Sears, and expanding on its already integral presence at The Shoppes at Bel Air. Rouse also announced it will commence a complete transformation of the center including the redevelopment of enclosed mall space into an engaging streetscape with retail and high-volume restaurant concepts fronting on Airport Boulevard.
Rouse Properties, Inc. to Report Q2, 2015 Results on Aug 03, 2015
Jul 14 15
Rouse Properties, Inc. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 03, 2015