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.

ILLEGAL ACTIVITY NOTICE: This report was published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.dailypolitical.com/2017/07/20/brokerages-set-general-growth-properties-inc-ggp-target-price-at-29-04.html.

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.

Analyst Recommendations for General Growth Properties (NYSE:GGP)

Receive News & Ratings for General Growth Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Growth Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.