Equities Analysts Offer Predictions for General Growth Properties, Inc.’s Q4 2017 Earnings (GGP)
General Growth Properties, Inc. (NYSE:GGP) – Boenning Scattergood decreased their Q4 2017 earnings per share (EPS) estimates for General Growth Properties in a research note issued to investors on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings per share of $0.46 for the quarter, down from their prior forecast of $0.49. Boenning Scattergood has a “Buy” rating and a $35.00 price objective on the stock. Boenning Scattergood also issued estimates for General Growth Properties’ Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.62 EPS.
Several other equities analysts also recently commented on GGP. Stifel Nicolaus reiterated a “buy” rating and issued a $24.00 target price on shares of General Growth Properties in a research report on Wednesday, November 1st. SunTrust Banks, Inc. set a $26.00 target price on General Growth Properties and gave the stock a “buy” rating in a research note on Tuesday, October 31st. BMO Capital Markets set a $22.00 target price on General Growth Properties and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Sandler O’Neill cut General Growth Properties from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $24.00 in a research note on Thursday, August 3rd. Finally, Citigroup Inc. reduced their price objective on General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.46.
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Shares of General Growth Properties (NYSE:GGP) opened at $19.10 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68. General Growth Properties has a 1 year low of $18.83 and a 1 year high of $27.10. The firm has a market capitalization of $18,068.16, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.93 and a beta of 0.78.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGP. OppenheimerFunds Inc. grew its holdings in shares of General Growth Properties by 29.5% during the first quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock valued at $327,000 after buying an additional 3,217 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of General Growth Properties in the first quarter worth about $195,000. Gotham Asset Management LLC acquired a new position in shares of General Growth Properties in the first quarter worth about $256,000. HighTower Advisors LLC acquired a new position in shares of General Growth Properties during the 1st quarter worth about $797,000. Finally, Toronto Dominion Bank raised its position in shares of General Growth Properties by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 40,266 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s dividend payout ratio is currently 122.22%.
General Growth Properties Company Profile
GGP Inc (GGP), formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.
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