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General Growth Properties Inc.

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General Growth Properties’ first-quarter 2016 funds from operations (FFO) per share of $0.40 came $0.05 ahead of the Zacks Consensus Estimate. Also, FFO per share was higher than the year-ago quarter figure of $0.32. The improvement was backed by a 5.2% rise in comparable net operating income (NOI). Total revenue during the quarter increased 2.2% year over year to $607.0 million. The figure also surpassed the Zacks Consensus Estimate of $583 million. The first-quarter outperformance is encouraging. For the company, a solid tenant base, portfolio repositioning efforts and initiatives to strengthen ties with customers augur well. But stiff competition and the anticipation of a hike in interest rate are lingering concerns.

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