General Growth Properties Inc (GGP) reported quarterly earnings results on Monday, Aug-1-2016. The company reported $0.35 EPS for the quarter. Analysts had a consensus estimate of $0.35. The company posted revenue of $574.60 million in the period, compared to analysts expectations of $589.19 million. The company’s revenue was down -.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.
General Growth Properties Inc opened for trading at $31.7 and hit $32.06 on the upside on Friday, eventually ending the session at $31.95, with a gain of 0.92% or 0.29 points. The heightened volatility saw the trading volume jump to 28,03,640 shares. Company has a market cap of $28,218 M.
In a different news, on Jun 29, 2016, Marvin J Levine (EVP, Chief Legal Officer) sold 15,000 shares at $29.70 per share price. According to the SEC, on Jun 28, 2016, Alan J Barocas (Sr. EVP, Leasing) sold 125,000 shares at $29.28 per share price. On Jun 27, 2016, Sandeep Mathrani (Chief Executive Officer) sold 600,000 shares at $28.76 per share price, according to the Form-4 filing with the securities and exchange commission.
General Growth Properties Inc. (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and operating retail properties to communities retailers employees consumers and shareholders. As of December 31 2014 the Company owned either entirely or with joint venture partners 128 retail properties. The Company’s business is conducted through GGP Operating Partnership LP (GGPOP) GGP Nimbus LP (GGPN) and GGP Limited Partnership (GGPLP or operating partnership) subsidiaries of GGP. The Operating Partnerships own an interest in the properties of GGP. As of December 31 2014 GGP held approximately a 99% common equity ownership of the Operating Partnerships. In addition the Operating Partnerships conduct their operations through General Growth Management Inc. (GGMI) General Growth Services Inc. (GGSI) and GGPLP REIT Services LLC (GGPRS).