General Growth Properties Inc. swung to a first-quarter profit on stronger-than-expected funds from operations and revenue growth, Dow Jones Daily Bankruptcy Review reported today. The mall owner raised its 2014 projection for per-share funds from operations — a key profitability measure for real-estate investment trusts — to between $1.30 and $1.32 from its previous estimate for $1.27 to $1.31. General Growth, which owns and manages retail properties in shopping malls across the U.S., has sold and spun off assets in an effort to improve its business since exiting bankruptcy in 2010.
