General Growth Properties, Inc. (NYSE:GGP) had its price objective lifted by Barclays PLC from $25.00 to $26.00 in a report released on Wednesday morning. They currently have an equal weight rating on the real estate investment trust’s stock.
Several other equities analysts have also issued reports on the company. Zacks Investment Research lowered General Growth Properties from a buy rating to a hold rating in a research note on Tuesday, January 24th. BMO Capital Markets reissued a buy rating and set a $31.00 target price on shares of General Growth Properties in a research note on Thursday, January 12th. Deutsche Bank AG reissued a hold rating and set a $27.00 target price (down previously from $36.00) on shares of General Growth Properties in a research note on Monday, January 9th. RBC Capital Markets reissued a buy rating and set a $33.00 target price on shares of General Growth Properties in a research note on Tuesday, January 3rd. Finally, Mizuho reissued a buy rating on shares of General Growth Properties in a research note on Friday, December 23rd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $31.75.
General Growth Properties (NYSE:GGP) opened at 25.30 on Wednesday. The firm’s 50-day moving average is $25.03 and its 200-day moving average is $26.70. General Growth Properties has a 12 month low of $23.77 and a 12 month high of $32.10. The stock has a market capitalization of $22.39 billion, a P/E ratio of 18.88 and a beta of 0.81.
General Growth Properties (NYSE:GGP) last released its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. General Growth Properties had a return on equity of 15.52% and a net margin of 54.91%. The business earned $610.30 million during the quarter, compared to analysts’ expectations of $602.50 million. During the same period in the prior year, the business posted $0.20 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities analysts expect that General Growth Properties will post $0.59 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.48%. General Growth Properties’s dividend payout ratio is presently 66.17%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fusion Family Wealth LLC purchased a new position in General Growth Properties during the fourth quarter worth about $101,000. Advisor Group Inc. increased its position in shares of General Growth Properties by 6.3% in the third quarter. Advisor Group Inc. now owns 6,636 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 392 shares during the period. Koch Industries Inc. bought a new position in shares of General Growth Properties during the fourth quarter valued at $203,000. Bailard Inc. bought a new position in shares of General Growth Properties during the third quarter valued at $221,000. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of General Growth Properties during the third quarter valued at $226,000. Hedge funds and other institutional investors own 91.15% of the company’s stock.
General Growth Properties Company Profile
GGP, Inc, formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.
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