General Growth FFO In Line With Estimate

(RTTNews) - Regional malls owner General Growth Properties Inc (GGP) on Wednesday reported fourth-quarter funds from operations, or FFO, of $419.9 million compared with $325.9 million last year.

Excluding items, company FFO for the quarter was $0.38 per share compared with $0.36 per share a year ago.

Analysts polled by Thomson Reuters estimated FFO of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Net income to common stockholders for the quarter was $285.5 million or $0.30 per share compared with $73.2 million or $0.07 per share a year ago.

Revenues for the quarter were $673 million compared with $670.7 million in the prior year.

Analysts estimated revenues of $671.7 million for the quarter.

For the first quarter, General Growth expects FFO of $0.30 to $0.32 per share and company FFO of $0.31 to $0.33 per share. Analysts expect FFO of $0.32 per share for the quarter.

For the full year 2015, General Growth now expects FFO of $1.35 to $1.41 per share and company FFO of $1.40 to $1.46 per share. Analysts expect FFO of $1.44 per share for 2015.