General Growth Properties, Inc. (NYSE:GGP) – Research analysts at SunTrust Banks cut their Q2 2017 EPS estimates for General Growth Properties in a research note issued on Monday. SunTrust Banks analyst K. Kim now anticipates that the real estate investment trust will post earnings of $0.37 per share for the quarter, down from their previous forecast of $0.38. SunTrust Banks also issued estimates for General Growth Properties’ Q3 2017 earnings at $0.39 EPS, Q4 2017 earnings at $0.44 EPS, FY2017 earnings at $1.57 EPS, FY2018 earnings at $1.61 EPS, FY2019 earnings at $1.69 EPS, FY2020 earnings at $1.77 EPS and FY2021 earnings at $1.88 EPS.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.25. General Growth Properties had a return on equity of 14.38% and a net margin of 52.21%. The business had revenue of $566.33 million for the quarter, compared to analyst estimates of $561.66 million. During the same period last year, the firm earned $0.40 EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year.
GGP has been the topic of a number of other research reports. Barclays PLC decreased their price objective 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. Royal Bank of Canada decreased their price target on General Growth Properties from $29.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, May 8th. ValuEngine lowered General Growth Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered General Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Finally, Mizuho lowered General Growth Properties from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $24.50 in a research note on Tuesday, May 30th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $30.14.
Shares of General Growth Properties (GGP) opened at 24.15 on Thursday. The firm has a market cap of $21.36 billion, a PE ratio of 19.32 and a beta of 0.81. The firm’s 50-day moving average is $22.77 and its 200 day moving average is $24.03. General Growth Properties has a 52 week low of $21.05 and a 52 week high of $32.10.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Thursday, July 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.88 annualized dividend and a yield of 3.64%. General Growth Properties’s dividend payout ratio is presently 70.97%.
Large investors have recently bought and sold shares of the company. Perigon Wealth Management LLC purchased a new position in shares of General Growth Properties during the first quarter valued at approximately $197,000. Piedmont Investment Advisors LLC raised its position in shares of General Growth Properties by 6,789.5% in the first quarter. Piedmont Investment Advisors LLC now owns 113,676 shares of the real estate investment trust’s stock valued at $2,635,000 after buying an additional 112,026 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of General Growth Properties by 6.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 108,834 shares of the real estate investment trust’s stock valued at $2,523,000 after buying an additional 6,946 shares during the last quarter. Bank of Nova Scotia raised its position in shares of General Growth Properties by 934.6% in the first quarter. Bank of Nova Scotia now owns 133,687 shares of the real estate investment trust’s stock valued at $3,099,000 after buying an additional 120,766 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of General Growth Properties during the first quarter valued at approximately $11,284,000. Institutional investors own 94.39% 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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