Have you been eager to see how GGP Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Chicago, IL-based retail real estate investment trust (REIT) earnings release this morning:
An In-line FFO
GGP Inc. came out with first-quarter 2017 funds from operations (FFO) per share of 36 cents, in-line with the Zacks Consensus Estimate.
How Was the Estimate Revision Trend?
Before posting the in-line FFO in Q1 results, the company delivered positive surprise in one of the trailing four quarters. In the other three occasions, the company posted in-line results. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.57% in the trailing four quarters.
Revenue Came In Slightly Higher Than Expected
GGP Inc. posted revenues of $566.3 million, which slightly beat the Zacks Consensus Estimate of $566 million. However, it came in lower than the year-ago number of $607 million.
Key Developments to Note
During the quarter, GGP Inc. recorded same store net operating income growth of 2.5%. The total development and redevelopment activities totaled $1.3 billion.
During the quarter, the board of directors of the company announced a quarterly common dividend of 22 cents per share, up 16% year over year but flat sequentially. This amount is payable on Jul 28 to stockholders of record as on Jul 13.
What Zacks Rank Says
GGP Inc. has a Zacks Rank #4 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this GGP earnings report later!
Note: All EPS numbers presented in this write-up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
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GGP Inc. (GGP) Q1 FFO In-Line with Estimate
Have you been eager to see how GGP Inc. performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Chicago, IL-based retail real estate investment trust (REIT) earnings release this morning:
An In-line FFO
GGP Inc. came out with first-quarter 2017 funds from operations (FFO) per share of 36 cents, in-line with the Zacks Consensus Estimate.
How Was the Estimate Revision Trend?
Before posting the in-line FFO in Q1 results, the company delivered positive surprise in one of the trailing four quarters. In the other three occasions, the company posted in-line results. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.57% in the trailing four quarters.
General Growth Properties, Inc. Price and EPS Surprise
General Growth Properties, Inc. Price and EPS Surprise | General Growth Properties, Inc. Quote
Revenue Came In Slightly Higher Than Expected
GGP Inc. posted revenues of $566.3 million, which slightly beat the Zacks Consensus Estimate of $566 million. However, it came in lower than the year-ago number of $607 million.
Key Developments to Note
During the quarter, GGP Inc. recorded same store net operating income growth of 2.5%. The total development and redevelopment activities totaled $1.3 billion.
During the quarter, the board of directors of the company announced a quarterly common dividend of 22 cents per share, up 16% year over year but flat sequentially. This amount is payable on Jul 28 to stockholders of record as on Jul 13.
What Zacks Rank Says
GGP Inc. has a Zacks Rank #4 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this GGP earnings report later!
Note: All EPS numbers presented in this write-up represent funds from operations (FFO) per share. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income.
Sell These Stocks. Now.
Just released, today's 220 Zacks Rank #5 Strong Sells demand urgent attention. If any are lurking in your portfolio or Watch List, they should be removed immediately. These are sinister companies because many appear to be sound investments. However, from 1988 through 2016, stocks from our Strong Sell list have actually performed 6X worse than the S&P 500. See today's Zacks "Strong Sells" absolutely free >>.