Have you been eager to see how GGP Inc. (NYSE:GGP) performed in Q4 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:
A FFO Beat
GGP Inc. came out with funds from operations (FFO) per share of 48 cents, beating the Zacks Consensus Estimate of 47 cents.
The company recorded same-store net operating income (NOI) growth of 1.3% during the reported quarter.
How Was the Estimate Revision Trend?
Before posting a beat in Q4, over the trailing four quarters, the company surpassed estimates in one occasion and met in the other three, the average positive surprise being 3.6%. This is depicted in the graph below.
Revenue Came Lower Than Expected
GGP Inc. posted revenues of $627.4 million, which missed the Zacks Consensus Estimate of $651.7 million. However, it compared favorably with the year-ago number of $610.3 million.
Key Developments to Note
GGP Inc.’s development and redevelopment activities totaled $1.5 billion. The company did not provide its guidance for 2018. It noted that the Board received an unsolicited proposal from Brookfield Property Partners late in 2017.
What Zacks Rank Says
GGP Inc. has a Zacks Rank #4 (Sell). 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: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
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General Growth Properties, Inc. (GGP): Free Stock Analysis Report
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