General Growth Properties Q1 FFO Rises

(RTTNews) - General Growth Properties Inc. (GGP) Monday reported first-quarter funds from operations of $292.4 million or $0.31 per share, up from $252.5 million or $0.25 per share last year.

On average, 19 analysts polled by Thomson Reuters expected the company to report FFO of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter were $124.1 million or $0.13 per share, compared to a loss of $13.7 million or $0.01 per share last year.

Total revenues for the quarter were $631.9 million from $626.7 million last year. Analysts estimated revenues of $619.6 million for the quarter.

For the full year 2014, the company now expects FFO of $1.30 to $1.32 per share, up from prior outlook of $1.27 to $1.31 per share. Analysts currently estimate earnings of $1.30 per share for the year.

The company expects second-quarter FFO of $0.29 to $0.31. Analysts currently estimate FFO of $0.31 per share for the quarter.