Market Overview

UPDATE: General Growth Posts Narrower Q2 Loss

Related GGP
Sears Shares Skyrocketed Again - 3 Charts Investors Should Study
Right Time to Build Positions in REIT Stocks? - Zacks Analyst Interviews
Opinion: Foreign Investment in U.S. Real Estate Widely Under-Reported (Fox Business)

General Growth Properties (NYSE: GGP) posted a narrower second-quarter loss.

General Growth lifted its full-year forecast for core funds from operations. It now projects FFO of $0.95 to $0.97 per share, versus its prior forecast of $0.92 to $0.96 per share.

General Growth posted a quarterly loss of $107.9 million, or $0.12 per share, versus a year-ago loss of $203 million, or $0.22 per share. Its core funds from operations came in at $0.23 per share, versus $0.18 per share. However, the company had expected FFO of $0.20 to $0.22 per share.

Its revenue climbed 3.5% to $624.1 million, versus analysts' estimates of $591 million.

General Growth shares closed at $18.21 yesterday.

Posted-In: lossEarnings News Guidance

 

Related Articles (GGP)

Around the Web, We're Loving...

Get Benzinga's Newsletters