Howard Hughes reports Q3 AFFO $1.32, consensus 8c
Reports Q3 revenue $231.17M, consensus $234.78M. Reports Q3 total NOI from the Operating Assets segment, including shares of NOI from equity investments, grew 33% to $56.3M. The company said, "Our Q3 results illustrate the strong fundamentals of our business across our core markets, highlighted by the 33% quarter-over-quarter growth we experienced in recurring Operating Assets NOI. With the NOI growth in our Operating Assets segment, we have an annual run rate of $231M with a stabilized NOI target of $323M, a 2.4% increase over 2018. At Summerlin, we celebrated the Las Vegas Ballpark and Las Vegas Aviators being named ballpark and team of the year by Ballpark Digest. These recognitions speak to the catalytic impact baseball has had on Summerlin, in particular on Downtown Summerlin, and the importance of masterful design in creating vibrant destinations in the hearts of our planned cities. Additionally, home sales, a leading indicator of future land purchases by home builders, are up 22.6% across all our MPCs."