General Growth Properties Inc (GGP) Tops EPS Estimates For Q3

General Growth Properties Inc (GGP) Tops EPS Estimates For Q3
General Growth Properties Inc (NYSE:GGP) released its earnings numbers for the September quarter of 2013 this afternoon after the market closed on Wall Street. The company showed earnings per share of $0.29 for the period. GGP showed revenues of $620.7 million in the three months. On today’s market General Growth Properties stock trended down and finished the day at $21.33.
General Growth Properties Inc (GGP) Tops EPS Estimates For Q3

In the run up to the release of these numbers analysts following General Growth Properties Inc (NYSE:GGP) were looking for earnings per share of 0.27 cents. In the same three months of last year the company managed to lose 10 cents per share.

General Growth Properties’ Previous Earnings

Earnings at General Growth Properties Inc (NYSE:GGP) haven’t come in all that strong in recent quarters. Of the four earnings reports the company released before today, three of them came in below expectations.

The company’s third quarter 2012 report was particularly harsh. It saw the company lose 10 cents per share after expectations pegged it at 4 cents of earning. General Growth Properties Inc (NYSE:GGP) will be hoping that commercial rental prices increase in the quarters ahead so that it can turn its massive real estate investment into money that it can then return to its shareholders.

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GGP’s performance

It hasn’t been a good year for General Growth Properties Inc (NYSE:GGP) shareholders. The firm’s stock has gained a little less than 7% so far this year, but that pales in comparison to the more than 20% that the S&P 500 (INDEXSP:.INX) has gained in the same period. The firm’s earnings have not been up to spec in several recent earnings reports, and it’s put a damper on share value.

General Growth Properties Inc (NYSE:GGP) executives will host a conference call in order to discuss this earnings report at 10 AM EST tomorrow morning. Investors and analysts will be looking for information about the company’s guidance.

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