Barclays Maintains an 'Equalweight' on General Growth Properties (GGP); Lowering Estimates

Barclays maintains an 'Equalweight' on General Growth Properties (NYSE: GGP) price target cut from $14 to $13.

Barclays analyst says, "We are lowering our 2012 FFO per share estimate to $0.98 from $1.03 primarily to reflect management's expected impact from non-core items ($0.05 per share) such as default interest and the amortization of mark-to-market adjustments on in-place leases and debt. Our CAD estimate goes to $0.64 per share from $0.87 due to a heavy expected capex load given its recent leasing activity that comes online in 2012. Notably, our estimate includes Rouse Properties, which we project will generate $0.06 per share of FFO in 2012."

For an analyst ratings summary and ratings history on General Growth Properties click here. For more ratings news on General Growth Properties click here.

Shares of General Growth Properties closed at $14.00 yesterday.

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