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GGP

General Growth Properties

5/19/2013, 8:07 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Monday, May 13, 3:45 PM General Growth Properties, Inc (GGP) declares $0.12/share quarterly dividend, in line with previous. Forward yield 2.11%. For shareholders of record July 16. Payable July 30. Ex-div date July 12. (PR) Comment! [Dividends]
Monday, May 13, 1:56 PM The NAREIT U.S. REIT Index (IYR, VNQ) had a pretty good year just in April, rising 5.8% vs. the S&P up 1.9%. YTD through April, the index was up 15.44% vs. 12.74% for the S&P. Y/Y, REITs are up 22.2% vs. the S&P at 16.89% The best performers in April were the retail REITs (SPG, TCO, GGP, O, ARCP, PEI), gaining 9.9%. Taking a break were the timber REITs (PCH, PCL), down 1.6% in April after rising 7.3% the previous month. YTD, the leading REIT performer is Health Care (VTR, HCP, HCN HTA), +23.7%. Comment! [Financials]
Tuesday, May 7, 9:05 AM Blackstone (BX) is unloading its 23.4M share stake (2.5% of the company) in General Growth Properties (GGP) in a secondary offering. Blackstone was part of the group which helped GGP emerge from bankruptcy in 2010, and in January sold warrants - which would have allowed it to buy more shares - back to the company. GGP -1.7% premarket. (PR) Comment! [Financials, Breaking News, On the Move]
Monday, April 29, 4:36 PM More on General Growth Properties (GGP) Q1 earnings: FFO of $0.25 up 13.6% Y/Y. Same-store NOI of $513M up 3.7% Y/Y. Occupancy rate of 95.8% up 210 bps from a year ago. Initial rental rates for leases started this year up 11.1% over expiring leases. FY FFO guidance is raised to $1.11-$1.15/share. Conference call at 9 ET. Shares -0.4% AH. (PR) Comment! [Earnings, Financials]
Monday, April 29, 4:06 PM General Growth Properties (GGP): Q1 FFO of $0.25 beats by $0.01. Revenue of $637.8M misses by $12.22M. (PR) Comment! [Earnings, Breaking News, Financials]
Monday, April 29, 12:10 AM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Sunday, April 28, 5:35 PM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Monday, April 22, 1:49 PM Moody's upgrades its outlook for the equity REIT industry to Stable. The sector is "well positioned to handle the fragile economic outlook and the potential for rising interest rates," the ratings agency says, in a new report. Moody's Senior VP notes that REITs have "access to multiple capital sources … at historically low rates that have lengthened their debt maturity profiles," boosted earnings, and increased fixed charge coverage ratios. 1 Comment
Monday, February 4, 4:12 PM General Growth Properties (GGP): Q4 EPS of $0.31 beats by $0.02. Revenue of $675.7M (+5% Y/Y) beats by $5.85M. (PR) Comment! [Earnings, Breaking News]
Monday, February 4, 12:10 AM Notable earnings after Monday’s close: ACLS, APC, APKT, ARRY, BIDU, EW, GGP, GILD, HI, HIG, HOLX, LEG, LIFE, MDU, MKL, SIMO, SWI, YUM Comment! [Earnings]
Sunday, February 3, 5:35 PM Notable earnings after Monday’s close: ACLS, APC, APKT, ARRY, BIDU, EW, GGP, GILD, HI, HIG, HOLX, LEG, LIFE, MDU, MKL, SIMO, SWI, YUM Comment! [Earnings]
Wednesday, January 30, 4:34 PM Fairholme is closing 3 of its funds to new investors as of the end of February. It's not about heavy inflows; instead Bruce Berkowitz is fed up with outflows and prefers a smaller, core group of investors who understand his deep-value process. Berkowitz might also be having trouble finding investments, having narrowed his holdings to basically just AIG, SHLD, BAC, JOE, CIT, LUK, and MBIA (GGP was sold last night). 7 Comments
Wednesday, January 30, 7:16 AM General Growth Properties (GGP) buys back warrants held by Fairholme Funds and Blackstone for about $633M. The warrants were exercisable into approximately 52M shares at $9.37 each. It's safe to say the warrants - issued as the company exited bankruptcy - were home runs. Brookfield Asset Management (BAM) remains the only holder of remaining warrants - about 83M at an exercise price of $9.53. (PR) Comment! [Financials]
Monday, January 28, 5:43 PM After-hours top gainers, as of 5:15 p.m.: FAF +6%. PCL +3%. WCRX +3%. MCRS +3%. GGP +2%.
After-hours top losers: BMC -7%. EMC -5%. STX -5%. CTXS -4%. FIO -4%. Comment! [On the Move]
Wednesday, January 9, 9:39 AM The U.S. mall vacancy rate declined to 8.6% in Q4 from 8.7% in Q3 and the cycle peak of 9.4% in 2011 Q3, according to Reis. The strip mall vacancy rate fell to 10.7% from 10.8%. Rents barely budged. Disappointed with the middling improvement, Reis' Ryan Severino notes vacancy rates are barely declining even with minimal mall completions occurring. 1 Comment [U.S. Economy, Financials]
Thursday, January 3, 12:11 PM Brookfield Asset Management's (BAM) purchase of Bill Ackman's General Growth (GGP -3.2%) warrants amounts to about a 20% premium to yesterday's closing GGP price, says Wells Fargo. In essence, Brookfield paid Ackman $78M to drop his demand for a sale of General Growth. For Brookfield investors, it's the cost of doing business, says Wells (which rates BAM a buy), but the "control premium upside" is worth it. Comment! [Financials]

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