General Growth Properties, Inc. (GGP) Given Consensus Rating of “Hold” by Analysts
Shares of General Growth Properties, Inc. (NYSE:GGP) have earned a consensus recommendation of “Hold” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.67.
A number of analysts have weighed in on GGP shares. BidaskClub upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) lowered shares of General Growth Properties from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $23.00 to $22.00 in a research note on Tuesday, June 20th. Zacks Investment Research lowered shares of General Growth Properties from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Barclays PLC reduced their price objective on shares of General Growth Properties from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, June 9th. Finally, Stifel Nicolaus started coverage on shares of General Growth Properties in a research note on Friday, July 14th. They set a “buy” rating and a $27.00 price objective for the company.
General Growth Properties (GGP) traded up 2.22% during midday trading on Friday, hitting $21.62. 3,755,669 shares of the stock traded hands. General Growth Properties has a 52 week low of $20.31 and a 52 week high of $27.10. The stock has a market capitalization of $19.05 billion, a P/E ratio of 18.14 and a beta of 0.77. The stock’s 50-day moving average price is $21.01 and its 200-day moving average price is $22.46.
General Growth Properties (NYSE:GGP) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. The business had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $576.75 million. During the same period last year, the business earned $0.35 earnings per share. Equities research analysts expect that General Growth Properties will post $0.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.16%. General Growth Properties’s dividend payout ratio is presently 73.95%.
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Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of General Growth Properties in the first quarter worth approximately $195,000. Perigon Wealth Management LLC bought a new stake in shares of General Growth Properties in the first quarter worth approximately $197,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of General Growth Properties in the first quarter worth approximately $204,000. Two Sigma Securities LLC bought a new stake in shares of General Growth Properties in the first quarter worth approximately $211,000. Finally, Keybank National Association OH bought a new stake in shares of General Growth Properties in the first quarter worth approximately $216,000. Hedge funds and other institutional investors own 95.32% of the company’s stock.
About General Growth Properties
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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