Risk Factors Update Summary
- Revenue from retail tenants depends on their ability to pay rent; Giant Food accounted for 4% of total revenue, down from 5%.
- Development projects may be unsuccessful, impacting results and reducing net income.
- Redevelopments and acquisitions may underperform; strategy includes community shopping centers and mixed-use properties.
- Debt outstanding increased from $1.2 billion to $1.4 billion, with fixed-rate debt at $1.13 billion.
- The phase-out of LIBOR could affect interest rates under variable rate debt and swap arrangements.
- SOFR may result in higher interest charges than LIBOR, impacting cash flow and net income.
- The company may grant waivers on ownership limits on a case-by-case basis.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=907254&owner=exclude
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