General Growth Properties Cheat Sheet: Positive Operating Results

General Growth Properties (NYSE:GGP) reported its results for the third 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.

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

General Growth Properties Earnings Cheat Sheet for the Third Quarter

Results: The company’s core funds from operations (FFO) fell from the year earlier quarter to 23 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It comes in ahead of the consensus estimate of 22 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.

Quoting Management: Sandeep Mathrani, GGP’s chief executive officer commented, “We are 10 months into a long-term strategy of driving value from our existing portfolio through increasing occupancy and lease spreads, along with mining development opportunities. The strategy is yielding positive operating results and we anticipate it will continue for the fourth quarter and beyond.”

Looking Forward: Expectations for the fourth quarter have not changed from 27 cents. The average estimate for the fiscal year is 91 cents per share, down from 95 cents ninety days ago.

Competitors to Watch: The Macerich Company (NYSE:MAC), Urstadt Biddle Properties Inc. (NYSE:UBA), One Liberty Properties, Inc. (NYSE:OLP), Weingarten Realty Investors (NYSE:WRI), CBL & Associates Properties, Inc. (NYSE:CBL), Saul Centers, Inc. (NYSE:BFS), Kite Realty Group Trust (NYSE:KRG), Entertainment Properties Trust (NYSE:EPR), Federal Realty Inv. Trust (NYSE:FRT), and Alexander’s, Inc. (NYSE:ALX).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

 

More from The Cheat Sheet