Latest Key Developments (Source: Significant Developments)
General Growth Properties Inc Declares Common And Preferred Dividends
General Growth Properties Inc announced that its Board of Directors declared a quarterly common stock dividend of $0.12 per share. The dividend is payable on July 30, 2013, to stockholders of record on July 16, 2013. Full Article
General Growth Properties Inc Announces Certain Funds Affiliated With The Blackstone Group To Sell Common Stock In Secondary Offering
General Growth Properties Inc announced that certain funds affiliated with The Blackstone Group have agreed to sell their 23,431,803 shares of common stock, par value $0.01 per share, in an underwritten public offering. The Company will not receive any proceeds from the sale of shares in the offering. Citigroup will act as sole underwriter of the offering. Full Article
General Growth Properties Inc Raises FY 2013 FFO Guidance; Issues Q2 2013 FFO Guidance In Line With Analysts' Estimates
General Growth Properties Inc announced that Company FFO for fiscal 2013, is expected to be $1.11 to $1.15 per diluted share and Company FFO for the second quarter 2013 is expected to be $0.24 to $0.26 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.10 for fiscal 2013 and FFO per share of $0.25 for the second quarter of 2013. Full Article
General Growth Properties Inc Declares Preferred Dividend
General Growth Properties Inc announced that Board of Directors declared a quarterly dividend of $0.2125 on its 6.375% Series A Cumulative Redeemable Preferred Stock . This represents a pro-rated initial dividend from the date of original issuance, February 13, 2013, through March 31, 2013. The preferred dividend will be payable on April 1, 2013, to shareholders of record on March 15, 2013. Full Article
General Growth Properties Inc Announces Pricing Of $250 Million 6.375% Cumulative Redeemable Perpetual Preferred Stock
General Growth Properties Inc announced that it has priced an underwritten public offering of 10,000,000 shares, or $250 million, of 6.375% Series A Cumulative Redeemable Perpetual Preferred Stock at a price of $25.00 per share, pursuant to an effective registration statement. The offering is expected to close on February 13, 2013, subject to customary closing conditions. The Company granted the underwriters an option to purchase up to an additional 1,500,000 shares within 30 days to cover over-allotments, if any. Morgan Stanley & Co. LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers for the offering. RBC Capital Markets, LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC acted as joint lead managers. Full Article
General Growth Properties Inc Issues Q1, FY 2013 FFO Guidance In Line With Analysts' Estimates
General Growth Properties Inc announced that for fiscal 2013, it expects FFO to be $1.08 to $1.12 per diluted share and expects FFO for the first quarter 2013 to be $0.24 to $0.26 per diluted share. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report FFO of $1.08 for fiscal 2013 and FFO of $0.24 for the first quarter of 2013. Full Article
General Growth Properties Inc Raises Quarterly Dividend
General Growth Properties Inc announced that its Board of Directors declared a first quarter common stock dividend of $0.12 per share payable on April 30, 2013, to stockholders of record on April 16, 2013, representing an increase of $0.01 per share from the prior quarter. Full Article
General Growth Properties Inc Announces Fourth Quarter Dividend
General Growth Properties Inc announced that its Board of Directors declared a cash dividend of $0.11 per share of common stock to be paid on January 4, 2013, to each holder of record at the close of business on December 14, 2012. Full Article
General Growth Properties Inc Issues Q4 2012 FFO Guidance In Line With Analysts' Estimates; Raises FY 2012 FFO Guidance
General Growth Properties Inc announced that for fourth quarter of 2012, it expects funds from operations (FFO) to be in the range of $0.28 to $0.30 per diluted share. For fiscal 2012, it expects FFO in the range of $0.96 to $0.98. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $0.29 for fourth quarter of 2012; FFO of $0.97 for fiscal 2012. Full Article
General Growth Properties Inc Rejects Ackman Call To Sell-Reuters
Reuters reported that The board of General Growth Properties Inc rejected Bill Ackman's call for the Company to consider selling itself, saying its shareholders would be best served by the Company sticking to its current business plan. Full Article
Blackstone funds exit General Growth Properties
NEW YORK - Blackstone Group LP plans to sell the 23.4 million shares of General Growth Properties Inc it holds in four funds that were used to help the mall company emerge from bankruptcy more than two years ago, General Growth said on Tuesday.
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