“Given our current view, for the remainder of the year, we are increasing our full year 2022 comparable FFO guidance from $11.70 to $11.77 per share, to $11.83 per share to $11.88 per share, compared to $11.44 last year.”

In context

“e expect to grow their asset management business and accelerate our densification opportunities. We anticipate this accretive transaction to close prior to the end of this year. Turning to the balance sheet. We completed the refinancing of 16 property mortgages during the first nine months of the year for a total of $1.8 billion, at an average interest rate of 4.78%. Our balance sheet is strong, with approximately $8.6 billion of liquidity. Net debt-to-EBITDA is at 5.7 times and our fixed charge coverage is over 5 times. Today, we announced a 9.1% increase in our common stock dividend, and we will pay $1.80 per share for the fourth quarter. The dividend is payable on December 30th. Since May, we have purchased 1.8 million shares of our common stock at an average price of $98.57 per share. Given our current view, for the remainder of the year, we are increasing our full year 2022 comparable FFO guidance from $11.70 to $11.77 per share, to $11.83 per share to $11.88 per share, compared to $11.44 last year. So that's an increase of 13% at the bottom end of the range and $0.12 at the midpoint and an increase of $0.26 at the midpoint compared to our initial guidance for the year. This guidance increase comes in the face of a strong U.S. dollar, rising interest rates and inflationary pressures. Now, just let me conclude by saying, we had another impressive quarter. And before we get to questions, I would like to share some thoughts with you. For nearly 30 years as a public company, like many companies and industries, we have dealt with significant shifts within our industry. In our case, we embrace new challenges, and are better operators and more thoughtful and astute capital allocations – allocators. Many have tried to kill off physical retail real estate and in particular in closed malls. An”