General Growth Properties Earnings: The Recovery is Helping Top Line Items
General Growth Properties (NYSE:GGP) reported its results for the fourth 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 Fourth Quarter
Results: The company’s funds from operations (FFO) rose 16% from the year earlier quarter to 29 cents. 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 28 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 first quarter of the next fiscal year has moved down from 23 cents a share to 22 cents over the last sixty days. For the fiscal year, the average estimate has moved up from 91 cents a share to 93 cents over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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