General Growth Properties, Inc. (NYSE:GGP) – Equities research analysts at Boenning Scattergood upped their Q4 2017 earnings per share estimates for General Growth Properties in a report issued on Tuesday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings of $0.47 per share for the quarter, up from their prior estimate of $0.46. Boenning Scattergood has a “Buy” rating and a $34.50 price objective on the stock.
Several other analysts also recently issued reports on GGP. Sandler O’Neill downgraded General Growth Properties from a “buy” rating to a “hold” rating and reduced their price objective for the company from $31.00 to $24.00 in a research report on Thursday, August 3rd. Citigroup Inc. reduced their price objective 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. Royal Bank Of Canada restated a “buy” rating and issued a $28.00 price objective on shares of General Growth Properties in a research report on Friday, August 4th. J P Morgan Chase & Co upgraded General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $24.00 price objective on shares of General Growth Properties in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.42.
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Shares of General Growth Properties (GGP) opened at $23.34 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.35 and a quick ratio of 1.35. General Growth Properties has a 12-month low of $18.83 and a 12-month high of $26.63. The stock has a market capitalization of $22,070.00, a price-to-earnings ratio of 14.97, a PEG ratio of 2.48 and a beta of 0.79.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 annualized dividend and a yield of 3.77%. General Growth Properties’s dividend payout ratio (DPR) is presently 123.94%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGP. Tredje AP fonden lifted its position in General Growth Properties by 13.3% during the third quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock worth $1,238,000 after buying an additional 7,007 shares during the period. Toronto Dominion Bank lifted its position in General Growth Properties by 25.6% during the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after buying an additional 40,266 shares during the period. Nationwide Fund Advisors lifted its position in General Growth Properties by 117.8% during the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after buying an additional 224,759 shares during the period. Gluskin Sheff & Assoc Inc. purchased a new position in General Growth Properties during the second quarter worth about $24,573,000. Finally, UBS Asset Management Americas Inc. lifted its position in General Growth Properties by 7.6% during the second 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 buying an additional 216,668 shares during the period. Hedge funds and other institutional investors own 88.45% of the company’s stock.
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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