Boenning Scattergood set a $35.00 target price on General Growth Properties, Inc. (NYSE:GGP) in a report issued on Tuesday. The brokerage currently has a buy rating on the real estate investment trust’s stock.
Several other research firms have also issued reports on GGP. Zacks Investment Research lowered General Growth Properties from a hold rating to a sell rating in a research report on Monday, July 17th. BidaskClub raised General Growth Properties from a sell rating to a hold rating in a research report on Wednesday, July 19th. Sandler O’Neill lowered General Growth Properties from a buy rating to a hold rating and lowered their price target for the stock from $31.00 to $24.00 in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a buy rating and issued a $28.00 price target on shares of General Growth Properties in a research report on Friday, August 4th. Finally, BMO Capital Markets assumed coverage on General Growth Properties in a research report on Monday, September 11th. They issued a market perform rating and a $22.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $25.46.
General Growth Properties (NYSE:GGP) traded down $0.10 on Tuesday, hitting $23.95. The stock had a trading volume of 11,886,001 shares, compared to its average volume of 6,357,037. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68. The stock has a market cap of $22,750.75, a price-to-earnings ratio of 15.42, a PEG ratio of 2.55 and a beta of 0.78. General Growth Properties has a 12-month low of $18.83 and a 12-month high of $27.10.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.67%. General Growth Properties’s dividend payout ratio is currently 122.22%.
Institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. grew its stake in shares of General Growth Properties by 29.5% during the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 3,217 shares during the period. Tredje AP fonden grew its stake in shares of General Growth Properties by 13.3% during the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after purchasing an additional 7,007 shares during the period. Toronto Dominion Bank grew its stake in shares of General Growth Properties by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after purchasing an additional 40,266 shares during the period. Nationwide Fund Advisors grew its stake in shares of General Growth Properties by 117.8% during the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after purchasing an additional 224,759 shares during the period. Finally, Gluskin Sheff & Assoc Inc. bought a new stake in shares of General Growth Properties during the 2nd quarter valued at about $24,573,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
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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