Post-Earnings Highlights - General Growth Properties

LONDON, August 1, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings highlights on General Growth Properties Inc. (NYSE: GGP) as the company released its second quarter 2014 earnings results on Monday, July 28, 2014. For the reported quarter, General Growth Properties Inc.'s comparable or same store net operating income (NOI) improved 5% Y-o-Y, while funds from operations (FFO) per share grew 17.7% Y-o-Y. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

In its most recent earnings release, General Growth Properties Inc. reported same store NOI of $537 million, up from $512 million in the prior year period. Net income attributable to the company stood at $173.72 million, or $0.18 per diluted share, as compared to net income of $209.38 million, or $0.21 per diluted share, in the comparable prior year period. The retail REIT's EBITDA grew 5% Y-o-Y to $506.56 million from $482.61 million in the year-ago quarter. The free research on GGP can be downloaded as in PDF format at:

http://www.Investor-Edge.com/GGPFreeReport

During the second quarter 2014, the company's tenant sales (all less anchors) grew 3.1% to $20 billion on a trailing 12-month basis, while Tenant sales (<10,000 square feet) improved 0.6% to $563 per square foot on a trailing 12-month basis. GGP reported same store mall leased percentage of 96.5% at quarter end, up by 60 basis points from June 30, 2013. The development and redevelopment activities of the Company totaled approximately $2.2 billion at share, out of which projects totaling approximately $326 million have opened and $1.1 billion is under construction.

The Chicago, Illinois-based company reported FFO per share of $0.31 per diluted share, up from $0.27 per diluted share in the prior year period, while the company's FFO increased 11.8% to $297.55 million from $266.20 million in the year-ago period. General Growth Properties Inc.'s total revenue stood at $617.62 million, compared with $599.54 million in the second quarter of 2013. Analysts at Bloomberg expected FFO of $0.31 per diluted share on total revenue of $761 million. The company expects FFO in the range of $0.30 to $0.32 per diluted share for the third quarter 2014 and $1.30 to $1.32 per diluted share for the year ending December 31, 2014. Sign up and read the free analyst's notes on GGP at:

http://www.Investor-Edge.com/GGP-01082014

Stock Performance  

On Tuesday, July 29, 2014, a day after publishing its earnings release, General Growth Properties Inc.'s shares lost 1.74% to close the trading session at $23.70. On the last close, Thursday, July 31, 2014, General Growth Properties Inc.'s shares fell 0.85% to end the day at $23.37, after vacillating between $23.33 and $23.55. A total of 3.26 million shares were traded, which was above its three months average volume of 2.96 million shares. The company's shares have fallen by 3.11% in the previous three trading sessions, while the stock has advanced 1.74% in the last three months and 16.44% on YTD basis. The company's shares are trading above their 200-day moving average of $22.00, while the 200-day moving average is below the 50-day moving average of $23.78. Additionally, the stock traded at a PE ratio of 101.61 and has an RSI of 43.51. Visit Investor-Edge and access the latest research on GGP at:

http://www.Investor-Edge.com/GGPEarningsCoverage

Sneak Peek to Corporate Insider Trading  

In the last one month, General Growth Properties Inc. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on GGP is available at:

http://www.Investor-Edge.com/GGPInsiderTrading

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