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GGP INC (GGP)
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GGP : reports 2Q results

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08/02/2017 | 01:06pm CET

CHICAGO (AP) _ GGP Inc. (GGP) on Wednesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.

The real estate investment trust, based in Chicago, said it had funds from operations of $381.2 million, or 40 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 35 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $121.9 million, or 14 cents per share.

The shopping mall real estate investment trust posted revenue of $555.8 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $576.7 million.

GGP expects full-year funds from operations to be $1.59 to $1.63 per share.

The company's shares have fallen nearly 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 11 percent. The stock has declined 28 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GGP at https://www.zacks.com/ap/GGP

Keywords: GGP, Earnings Report

Automated Insights, source Associated Press News

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Financials ($)
Sales 2017 2 282 M
EBIT 2017 863 M
Net income 2017 613 M
Debt 2017 15 573 M
Yield 2017 3,97%
P/E ratio 2017 37,31
P/E ratio 2018 40,96
EV / Sales 2017 16,6x
EV / Sales 2018 16,1x
Capitalization 22 410 M
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GGP Inc Technical Analysis Chart | GGP | US36174X1019 | 4-Traders
Technical analysis trends GGP INC
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 25,4 $
Spread / Average Target 7,2%
EPS Revisions
Managers
NameTitle
Sandeep Lakhmi Mathrani Chief Executive Officer & Director
Shobi Khan President & Chief Operating Officer
James Bruce Flatt Independent Chairman
Michael Bruce Berman Chief Financial Officer & Executive Vice President
John K. Haley Independent Director
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