Brokerages Set General Growth Properties, Inc. (GGP) Target Price at $29.04
Shares of General Growth Properties, Inc. (NYSE:GGP) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.04.
GGP has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of General Growth Properties in a report on Friday, July 14th. They set a “buy” rating and a $27.00 price objective for the company. ValuEngine raised shares of General Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. 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 report on Friday, June 9th. Zacks Investment Research raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. Finally, BidaskClub raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Saturday, June 17th.
A number of large investors have recently bought and sold shares of GGP. Renaissance Technologies LLC bought a new stake in General Growth Properties during the fourth quarter valued at $11,116,000. Quadrature Capital Ltd bought a new stake in General Growth Properties during the fourth quarter valued at $725,000. Kentucky Retirement Systems bought a new stake in General Growth Properties during the fourth quarter valued at $1,058,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in General Growth Properties during the fourth quarter valued at $472,000. Finally, Highbridge Capital Management LLC boosted its stake in General Growth Properties by 79.8% in the fourth quarter. Highbridge Capital Management LLC now owns 563,420 shares of the real estate investment trust’s stock valued at $14,074,000 after buying an additional 250,062 shares during the last quarter. Hedge funds and other institutional investors own 92.20% of the company’s stock.
Shares of General Growth Properties (GGP) remained flat at $23.68 during midday trading on Monday. 2,199,282 shares of the stock traded hands. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 18.94 and a beta of 0.77. General Growth Properties has a 52 week low of $21.05 and a 52 week high of $32.10. The firm’s 50-day moving average is $23.37 and its 200 day moving average is $23.69.
General Growth Properties (NYSE:GGP) last issued its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $561.66 million. During the same period last year, the company earned $0.40 earnings per share. General Growth Properties’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts predict that General Growth Properties will post $0.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Thursday, July 13th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.72%. The ex-dividend date is Tuesday, July 11th. 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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