EarningsThe company reported funds from operations (FFO) just below analyst expectations, influenced by increased costs of borrowing and less income from investments than projected.
Operational ChallengesManagement has acknowledged that over 300,000 square feet of unoccupied space is likely to have an adverse impact on the company's performance in the short term.
Operational PerformanceCurrent leasing activity is lagging behind the company's historical average, and the pace of filling up new developments remains sluggish, with an abundance of available space adding to the challenge.