BidaskClub upgraded shares of General Growth Properties, Inc. (NYSE:GGP) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.
A number of other equities research analysts have also commented on the company. Barclays PLC reduced their price target on General Growth Properties from $25.00 to $24.00 and set an equal weight rating on the stock in a research report on Friday, June 9th. ValuEngine lowered General Growth Properties from a buy rating to a hold rating in a research report on Friday, June 2nd. Mizuho lowered General Growth Properties from a buy rating to a neutral rating and reduced their price target for the company from $30.00 to $24.50 in a research report on Tuesday, May 30th. Zacks Investment Research upgraded General Growth Properties from a sell rating to a hold rating in a research report on Thursday, May 18th. Finally, Royal Bank Of Canada reduced their price target on General Growth Properties from $29.00 to $28.00 and set an outperform rating on the stock in a research report on Monday, May 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $30.14.
General Growth Properties (NYSE GGP) traded down 0.45% during trading on Friday, reaching $24.15. The company’s stock had a trading volume of 10,653,926 shares. The firm has a 50 day moving average price of $22.77 and a 200-day moving average price of $24.03. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 19.32 and a beta of 0.81. General Growth Properties has a 52-week low of $21.05 and a 52-week high of $32.10.
General Growth Properties (NYSE:GGP) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $561.66 million. General Growth Properties had a return on equity of 14.38% and a net margin of 52.21%. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue was down 6.7% on a year-over-year basis. On average, analysts expect that General Growth Properties will post $0.51 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Thursday, July 13th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Tuesday, July 11th. General Growth Properties’s dividend payout ratio is 70.97%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of General Growth Properties during the fourth quarter worth about $141,000. Oppenheimer Asset Management Inc. acquired a new position in shares of General Growth Properties during the first quarter worth about $195,000. Perigon Wealth Management LLC acquired a new position in shares of General Growth Properties during the first quarter worth about $197,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of General Growth Properties during the first quarter worth about $204,000. Finally, Two Sigma Securities LLC acquired a new position in shares of General Growth Properties during the first quarter worth about $211,000. 94.39% 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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