UPDATE: General Growth Posts Upbeat Q4 Results, Lifts Dividend
General Growth Properties (NYSE: GGP) posted a profit in the fourth quarter.
For the new year, it expects FFO of $1.08 to $1.12 per share, versus analysts' estimates of $1.08 per share. It also expects first-quarter FFO of $0.24 to $0.26 per share, versus estimates of $0.24 per share.
General Growth raised its quarterly dividend to $0.12 per share.
General Growth posted a quarterly profit of $32.2 million, or $0.04 per share, versus a year-ago loss of $367.8 million, or $0.39 per share. Its funds from operations climbed to $0.31 from $0.26 per share. The company in October expected FFO of $0.28 to $0.30 per share.
Its revenue rose 4.9% to $675.7 million, versus analysts' estimates of $670 million.
General Growth shares closed at $19.98 yesterday.
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