Boenning Scattergood reiterated their buy rating on shares of General Growth Properties, Inc. (NYSE:GGP) in a research report report published on Wednesday morning. Boenning Scattergood currently has a $34.50 target price on the real estate investment trust’s stock. Boenning Scattergood also issued estimates for General Growth Properties’ Q4 2017 earnings at $0.46 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.47 EPS and FY2018 earnings at $1.62 EPS.
A number of other equities research analysts have also recently commented on GGP. Stifel Nicolaus restated a buy rating and set a $24.00 target price on shares of General Growth Properties in a research report on Wednesday, November 1st. Sandler O’Neill cut General Growth Properties from a buy rating to a hold rating and dropped their target price for the company from $31.00 to $24.00 in a research report on Thursday, August 3rd. Citigroup Inc. dropped their target price on General Growth Properties from $30.00 to $27.50 and set a buy rating on the stock in a research report on Monday, August 14th. SunTrust Banks, Inc. set a $26.00 price target on shares of General Growth Properties and gave the company a buy rating in a research note on Tuesday, October 31st. Finally, BMO Capital Markets set a $22.00 price target on shares of General Growth Properties and gave the company a hold rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. General Growth Properties presently has an average rating of Hold and a consensus target price of $25.42.
Shares of General Growth Properties (GGP) opened at $22.20 on Wednesday. General Growth Properties has a 12-month low of $18.83 and a 12-month high of $27.10. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $20,811.50, a PE ratio of 14.10, a PEG ratio of 2.23 and a beta of 0.78.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, December 14th. General Growth Properties’s dividend payout ratio (DPR) is 122.22%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its stake in General Growth Properties by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after purchasing an additional 224,759 shares in the last quarter. Toronto Dominion Bank lifted its stake in General Growth Properties by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 40,266 shares in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new position in General Growth Properties in the 2nd quarter worth approximately $24,573,000. UBS Asset Management Americas Inc. lifted its stake in General Growth Properties by 7.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after purchasing an additional 216,668 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in General Growth Properties in the 1st quarter worth approximately $256,000. 95.33% of the stock is currently owned by institutional investors and hedge funds.
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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