Boenning Scattergood Analysts Give GGP (GGP) a $35.00 Price Target

GGP (NYSE:GGP) has been given a $35.00 target price by analysts at Boenning Scattergood in a report issued on Thursday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Boenning Scattergood’s price target would indicate a potential upside of 59.67% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut GGP from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Sandler O’Neill cut GGP from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BMO Capital Markets set a $22.00 price objective on GGP and gave the stock a “hold” rating in a report on Tuesday, October 31st. SunTrust Banks set a $26.00 price objective on GGP and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price objective on shares of GGP in a report on Wednesday, November 1st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.25.

GGP (NYSE GGP) traded down $0.05 during mid-day trading on Thursday, hitting $21.92. The stock had a trading volume of 691,624 shares, compared to its average volume of 4,637,687. GGP has a 52-week low of $18.83 and a 52-week high of $25.72. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $20,655.34, a PE ratio of 30.42, a P/E/G ratio of 2.34 and a beta of 0.84.

GGP (NYSE:GGP) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. GGP had a return on equity of 8.34% and a net margin of 29.96%. The firm had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $646.14 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. analysts expect that GGP will post 1.58 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. IBM Retirement Fund bought a new stake in GGP during the fourth quarter valued at about $214,000. FNY Partners Fund LP grew its holdings in GGP by 725.0% during the fourth quarter. FNY Partners Fund LP now owns 16,500 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 14,500 shares during the period. US Bancorp DE grew its holdings in GGP by 39.5% during the fourth quarter. US Bancorp DE now owns 21,313 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 6,038 shares during the period. Blue Sky Asset Management LLC bought a new stake in GGP during the fourth quarter valued at about $503,000. Finally, Lourd Capital LLC bought a new stake in GGP during the fourth quarter valued at about $508,000. 95.41% of the stock is owned by institutional investors and hedge funds.

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GGP 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.

Analyst Recommendations for GGP (NYSE:GGP)

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