Shares of General Growth Properties, Inc. (NYSE:GGP) have been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $29.59.
Several equities analysts have weighed in on the company. BidaskClub raised General Growth Properties from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Barclays PLC cut their target price on General Growth Properties from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, June 9th. Goldman Sachs Group, Inc. (The) lowered General Growth Properties from a “neutral” rating to a “sell” rating and cut their target price for the company from $23.00 to $22.00 in a research note on Tuesday. Royal Bank Of Canada dropped their price target on General Growth Properties from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, May 8th. Finally, ValuEngine lowered General Growth Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Aberdeen Asset Management PLC UK increased its position in General Growth Properties by 10.8% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 155,123 shares of the real estate investment trust’s stock worth $3,875,000 after buying an additional 15,180 shares during the last quarter. Comerica Bank increased its position in General Growth Properties by 13.6% in the fourth quarter. Comerica Bank now owns 180,378 shares of the real estate investment trust’s stock worth $4,477,000 after buying an additional 21,633 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in General Growth Properties by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,474 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 124 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in General Growth Properties during the fourth quarter worth about $325,000. Finally, Credit Agricole S A increased its position in General Growth Properties by 16.8% in the fourth quarter. Credit Agricole S A now owns 485,513 shares of the real estate investment trust’s stock worth $12,129,000 after buying an additional 69,891 shares during the last quarter. Institutional investors and hedge funds own 94.43% of the company’s stock.
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Shares of General Growth Properties (NYSE GGP) traded up 0.81% during trading on Tuesday, reaching $23.67. The company had a trading volume of 8,323,466 shares. The firm has a market capitalization of $20.94 billion, a P/E ratio of 18.94 and a beta of 0.81. The company has a 50 day moving average of $22.88 and a 200-day moving average of $24.00. General Growth Properties has a 52-week low of $21.05 and a 52-week high of $32.10.
General Growth Properties (NYSE:GGP) last released its earnings results on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.25. General Growth Properties had a net margin of 52.21% and a return on equity of 14.38%. The company had revenue of $566.33 million during the quarter, compared to analyst estimates of $561.66 million. During the same period in the previous year, the company posted $0.40 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Equities analysts expect that General Growth Properties will post $0.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, July 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Tuesday, July 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.72%. General Growth Properties’s payout ratio is presently 70.97%.
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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