General Growth Properties FFO Tops Estimate - Quick Facts

(RTTNews) - Regional malls owner General Growth Properties Inc (GGP) Monday reported third-quarter funds from operations of $293.2 million compared with $263.4 million last year.

Excluding items, company FFO for the quarter was $0.33 per share compared with $0.29 per share a year ago.

Analysts polled by Thomson Reuters estimated FFO of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Net income to stockholders for the quarter was $70.6 million or $0.07 per share compared with $23.5 million or $0.02 per share a year ago.

Revenues for the quarter were $631.8 million compared with $606.1 million in the prior year.

Analysts estimated revenues of $611.7 million for the quarter.

Expenses for the quarter decreased to $393 million from $412 million last year.

Looking ahead to the fourth quarter, General Growth expects FFO of $0.36 to $0.37 per share and company FFO of $0.37 to $0.39 per share. Analysts expect FFO of $0.38 per share.

For the full year, General Growth expects FFO of $1.30 to $1.32 per share and company FFO of $1.31 to $1.33 per share. Analysts expect FFO of $1.32 per share.