Real Estate
REIT - Retail
$9.12B
304
Key insights and themes extracted from this filing
Total property revenue increased from $280.7 million to $296.1 million, driven by higher rental rates and occupancy increases in non-comparable properties. This indicates a healthy demand for the company's properties and effective management of its portfolio.
Operating income increased from $101.8 million to $157.0 million, primarily due to a gain on the sale of real estate, higher rental rates, and increased occupancy in non-comparable properties. This demonstrates improved profitability and efficient management of assets.
Interest expense increased from $42.9 million to $44.3 million due to a higher overall weighted average borrowing rate. This could potentially impact future profitability if interest rates continue to rise.