General Growth Properties, Inc. (GGP) Receives Average Recommendation of “Hold” from Analysts
General Growth Properties, Inc. (NYSE:GGP) has received a consensus rating of “Hold” from the sixteen analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $25.46.
GGP has been the subject of several research analyst reports. J P Morgan Chase & Co raised General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 26th. Boenning Scattergood reissued a “buy” rating and set a $34.50 price objective on shares of General Growth Properties in a research report on Tuesday, November 21st. SunTrust Banks set a $26.00 price objective on General Growth Properties and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BMO Capital Markets initiated coverage on General Growth Properties in a research report on Monday, September 11th. They set a “market perform” rating and a $22.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on General Growth Properties from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th.
A number of institutional investors and hedge funds have recently modified their holdings of GGP. Gluskin Sheff & Assoc Inc. bought a new position in General Growth Properties during the second quarter valued at about $24,573,000. Nationwide Fund Advisors increased its stake in General Growth Properties by 117.8% during the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after acquiring an additional 224,759 shares during the period. UBS Asset Management Americas Inc. increased its stake in General Growth Properties by 7.6% during the second quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock valued at $71,904,000 after acquiring an additional 216,668 shares during the period. Toronto Dominion Bank increased its stake in General Growth Properties by 25.6% during the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after acquiring an additional 40,266 shares during the period. Finally, Tredje AP fonden increased its stake in General Growth Properties by 13.3% during the third quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after acquiring an additional 7,007 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.
General Growth Properties (NYSE:GGP) opened at $23.42 on Friday. General Growth Properties has a 12-month low of $18.83 and a 12-month high of $26.43. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $22,523.71, a PE ratio of 15.26, a P/E/G ratio of 2.55 and a beta of 0.85.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 annualized dividend and a yield of 3.76%. General Growth Properties’s dividend payout ratio is 122.22%.
ILLEGAL ACTIVITY NOTICE: This report was first posted by Watch List News and is the property of of Watch List News. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.watchlistnews.com/general-growth-properties-inc-ggp-receives-average-recommendation-of-hold-from-analysts/1764640.html.
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.
Receive News & Ratings for General Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Growth Properties and related companies with Analyst Ratings Network's FREE daily email newsletter.