BidaskClub upgraded shares of General Growth Properties, Inc. (NYSE:GGP) from a sell rating to a hold rating in a report released on Wednesday.
A number of other equities research analysts also recently weighed in on GGP. Barclays PLC restated an equal weight rating and issued a $25.00 target price (down from $26.00) on shares of General Growth Properties in a research report on Wednesday, April 19th. Zacks Investment Research downgraded General Growth Properties from a hold rating to a sell rating in a research report on Wednesday, April 26th. Royal Bank Of Canada cut their target price on General Growth Properties from $29.00 to $28.00 and set an outperform rating for the company in a research report on Monday, May 8th. ValuEngine upgraded General Growth Properties from a hold rating to a buy rating in a research report on Thursday, May 11th. Finally, Mizuho downgraded General Growth Properties from a buy rating to a neutral rating and cut their target price for the stock from $30.00 to $24.50 in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. General Growth Properties has an average rating of Hold and a consensus target price of $28.96.
Shares of General Growth Properties (GGP) traded down 0.13% during trading on Wednesday, reaching $23.65. The company had a trading volume of 1,300,384 shares. General Growth Properties has a 12 month low of $21.05 and a 12 month high of $32.10. The stock’s 50-day moving average price is $23.37 and its 200-day moving average price is $23.69. The stock has a market capitalization of $20.92 billion, a PE ratio of 18.92 and a beta of 0.77.
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 analysts’ consensus estimates of $0.36 by $0.25. The firm had revenue of $566.33 million during the quarter, compared to analyst estimates of $561.66 million. General Growth Properties had a return on equity of 14.38% and a net margin of 52.21%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the company earned $0.40 earnings per share. Equities analysts forecast that General Growth Properties will post $0.52 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Thursday, July 13th will be paid a dividend of $0.22 per share. 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 dividend payout ratio (DPR) is currently 70.97%.
A number of hedge funds have recently made changes to their positions in GGP. Oppenheimer Asset Management Inc. purchased a new stake in shares of General Growth Properties during the first quarter valued at about $195,000. Perigon Wealth Management LLC bought a new position in General Growth Properties during the first quarter worth $197,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new position in General Growth Properties during the first quarter worth $204,000. Two Sigma Securities LLC bought a new position in General Growth Properties during the first quarter worth $211,000. Finally, Old Mutual Global Investors UK Ltd. bought a new position in General Growth Properties during the first quarter worth $213,000. 92.20% of the stock is currently owned by institutional investors.
General Growth Properties Company Profile
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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