Back to top

Image: Bigstock

GGP Inc. (GGP) Meets Q3 FFO Estimates, Surpasses Revenues

Read MoreHide Full Article

Have you been eager to see how GGP Inc.  performed in Q3 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:

In-Line FFO

GGP Inc. came out with funds from operations (FFO) per share of 37 cents, meeting the Zacks Consensus Estimate.

The company recorded same-store net operating income (NOI) growth of 2% during the reported quarter.

How Was the Estimate Revision Trend?

Before posting in-line results in Q3, GGP Inc. delivered in-line performance in three of the trailing four quarters. In the other, the company delivered a positive surprise. This is depicted in the chart below:

Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.57% in the trailing four quarters.

 General Growth Properties, Inc. Price, Consensus and EPS Surprise
 

Note: The EPS numbers presented in the above chart represent funds from operations (FFO) per share.

Revenue Came In Higher Than Expected

GGP Inc. posted revenues of $578.4 million, which surpassed the Zacks Consensus Estimate of $565.6 million. It compared favorably with the year-ago number of $554.5 million.

Key Developments to Note

GGP Inc.’s total development and redevelopment activities totaled $1.5 billion. For fourth-quarter 2017, the company projects FFO per share in the range of 46-48 cents.

What Zacks Rank Says

GGP Inc. has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(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!

Note:  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.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Published in