General Growth Properties, Inc. (NYSE:GGP) announced a quarterly dividend on Monday, May 1st, RTT News reports. Investors of record on Thursday, July 13th will be given a dividend of 0.22 per share by the real estate investment trust on Friday, July 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Tuesday, July 11th.
General Growth Properties has raised its dividend by an average of 17.1% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. General Growth Properties has a payout ratio of 56.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect General Growth Properties to earn $0.59 per share next year, which means the company may not be able to cover its $0.88 annual dividend with an expected future payout ratio of 149.2%.
Shares of General Growth Properties (NYSE:GGP) opened at 22.76 on Monday. General Growth Properties has a 52-week low of $21.05 and a 52-week high of $32.10. The firm has a market cap of $20.13 billion, a P/E ratio of 18.21 and a beta of 0.77. The company has a 50 day moving average price of $23.15 and a 200-day moving average price of $23.91.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.25. The firm had revenue of $566.33 million during the quarter, compared to analysts’ expectations of $561.66 million. General Growth Properties had a net margin of 52.21% and a return on equity of 14.38%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, analysts expect that General Growth Properties will post $0.51 earnings per share for the current fiscal year.
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Several equities research analysts have commented on the stock. BidaskClub upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a research note on Saturday, June 17th. Goldman Sachs Group, Inc. (The) lowered shares of General Growth Properties from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $23.00 to $22.00 in a research note on Tuesday, June 20th. Barclays PLC reiterated an “equal weight” rating and issued a $25.00 price objective (down previously from $26.00) on shares of General Growth Properties in a research note on Wednesday, April 19th. ValuEngine upgraded shares of General Growth Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, Mizuho lowered shares of General Growth Properties from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $24.50 in a research note on Tuesday, May 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.46.
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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