General Growth Properties Third Quarter Earnings Sneak Peek

General Growth Properties (NYSE:GGP) will unveil its latest earnings on Wednesday, November 9, 2011. 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.

General Growth Properties Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 22 cents per share, a decline of 51.1% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 23 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 22 cents during the last month. For the year, analysts are projecting net income of 91 cents per share, no change from last year.

Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting profit of 20 cents per share against an estimate of net income of 23 cents per share. The quarter before that, it missed expectations by one cent.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 11.2% in revenue from the year-earlier quarter to $683.7 million.

Analyst Ratings: Analysts seem relatively indifferent about General Growth Properties with eight of 10 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, the company’s loss widened to a loss of a $203 million (22 cents a share) from a loss of $117.5 million (37 cents) a year earlier, missing analyst expectations. Revenue fell 29.4% to $568.5 million from $805.3 million.

Key Stats:

Revenue fell in the second quarter after seeing a rise the quarter before. In the first quarter, revenue rose 0.7%.

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).

Stock Price Performance: During October 6, 2011 to November 3, 2011, the stock price had risen $2.62 (21.7%) from $12.09 to $14.71. It saw one of its worst periods between July 7, 2011 and July 14, 2011 when shares fell for six-straight days, falling 6.1% (-$1.05) over that span. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 28, 2011 when shares rose for eight-straight days, rising 9.2% (+$1.39) over that span. Shares are down 45 cents (-3%) year to date.

(Source: Xignite Financials)

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