General Growth Properties: 13 Analysts Give a ‘Buy’ Rating
On February 3, General Growth Properties’ (GGP) stock closed at $28.10.
General Growth Properties (GGP) management scheduled a conference call to discuss its 4Q15 earnings and provide some outlook on the future.
To lower its effective borrowing costs and extend its maturity profile, GGP was active in unsecured and secured credit markets in fiscal 2015.
General Growth Properties (GGP) has development and redevelopment activities totaling approximately $2.3 billion.
General Growth Properties’ funds from operations per diluted share increased to $0.43 in 4Q15 from $0.38 in 4Q14.
General Growth Properties’ (GGP) same-store occupancy rate fell from 96.7% in 4Q14 to 96.5% in 4Q15.
Minimum rent contributed to 60.1% of General Growth Properties’ total revenue in 4Q15.
General Growth Properties’ FFO (funds from operations) per share for 4Q15 were $0.43, higher than the consensus estimate of $0.42.
Among the 25 analysts following Simon Property stock, 20 have assigned a “buy” rating. The company received no “sell” ratings from any analysts while five brokerages have assigned a “hold” rating.
Simon Property Group’s management conducted a conference call to discuss its 4Q15 earnings and to provide an outlook for the future. The company’s FFO per share and revenue beat analyst estimates.
The total debt of Simon Property Group (SPG) increased from $20.8 billion as of the end of 4Q14 to $22.5 billion as of the end of 4Q15.
The rise in development, redevelopment, and expansion activities of Simon Property Group (SPG) indicates its strong confidence in the markets continued healthy performance over the next few years.
Simon Property Group’s total portfolio NOI increased by 6.5% in 4Q15 to $1.53 billion while the comparable property NOI grew by 3.4% to $1.3 billion in 4Q15 over 4Q14.
Simon Property Group (SPG) had 179 properties under US malls and premium outlets as of the end of 4Q15 compared to 177 as of the end of 4Q14.
Simon Property Group’s (SPG) total revenue for 4Q15 stood at $1.38 billion, up by 6.4% over 4Q14. Minimum rent witnessed a year-over-year growth of 7.9% in 4Q15 to $832.4 million.
The largest US retail REIT, Simon Property Group reported its 4Q15 earnings on January 29, 2016. The company’s EPS for 4Q15 was $1.27, higher than the consensus estimate of $1.16.
Currently, Simon Property shares are trading at higher valuations with a price-to-FFO multiple of 18.7x. The average price-to-FFO multiple for apartment REITs is 15.3x.
Wall Street (SPY) analysts expect Simon Property to post funds from operations of $2.58 per share for the fourth quarter of 2015. This translates to a growth of 4.3%.
Wall Street analysts expect Simon Property’s EBITDA to be $1.1 billion in 4Q15 compared to $967.4 million in 4Q14. That would be a growth of 15.4%.
The rise in minimum rent bodes well for Simon Property (SPG), as it improves its bottom line. In 4Q15, base rent is expected to improve marginally over 4Q14.