General Growth Properties (NYSE:GGP) reported its results for the first quarter. General Growth Properties is a real estate investment trust, which through its subsidiaries and affiliates operates, manages, develops and acquires retail and other rental properties, shopping centers, which are located throughout the United States.
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General Growth Properties Earnings Cheat Sheet for the First Quarter
Results: The company’s funds from operations (FFO) rose to 22 cents from the year earlier. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It come in ahead of the consensus estimate of 21 cents per share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 21 cents a share to 20 cents over the last ninety days. At 90 cents per share, the average estimate for the fiscal year has fallen from 92 cents ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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