Revenue during the quarter dropped 28 percent to $114.63 million from $159.21 million in the previous year period.

Total expenses were $91.77 million for the quarter, down 29.59 percent or $38.57 million from year-ago period. Operating margin for the quarter expanded 181 basis points over the previous year period to 19.94 percent.

Operating income for the quarter was $22.86 million, compared with $28.87 million in the previous year period.

Revenue from real estate activities during the quarter declined 28 percent or $44.58 million to $114.63 million.

Income from operating leases during the quarter dropped 26.09 percent or $32.74 million to $92.72 million. Revenue from tenant reimbursements was $21.91 million for the quarter, down 35.08 percent or $11.84 million from year-ago period.

Net receivables were at $150.73 million as on Sep. 30, 2016, down 18.38 percent or $33.95 million from year-ago.

Total assets declined 6.73 percent or $358.48 million to $4,965.77 million on Sep. 30, 2016. On the other hand, total liabilities were at $1,676.73 million as on Sep. 30, 2016, down 16.04 percent or $320.31 million from year-ago.

Return on assets moved up 114 basis points to 2.18 percent in the quarter. At the same time, return on equity moved up 186 basis points to 2.57 percent in the quarter.

Shareholders equity stood at $3,289.04 million as on Sep. 30, 2016, down 1.15 percent or $38.17 million from year-ago. As a result, debt to equity ratio went up 25 basis points to 0.47 percent in the quarter.