General Growth Properties, Inc. (NYSE:GGP) has been assigned an average rating of “Hold” from the sixteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $25.46.
GGP has been the topic of several recent analyst reports. Boenning Scattergood restated a “buy” rating and set a $34.50 price objective on shares of General Growth Properties in a research report on Wednesday, November 8th. SunTrust Banks, Inc. set a $26.00 target price on shares of General Growth Properties and gave the company a “buy” rating in a research note on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 target price on shares of General Growth Properties in a research note on Wednesday, November 1st. Citigroup Inc. cut their target price on shares of General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $28.00 target price on shares of General Growth Properties in a research note on Friday, August 4th.
Shares of General Growth Properties (GGP) opened at $23.66 on Monday. The company has a market cap of $22,381.82, a price-to-earnings ratio of 15.17, a PEG ratio of 2.52 and a beta of 0.78. General Growth Properties has a 52-week low of $18.83 and a 52-week high of $26.63. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be paid a $0.22 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.72%. General Growth Properties’s payout ratio is currently 122.22%.
Several large investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. grew its stake in shares of General Growth Properties by 7.6% in the 2nd 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 in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new position in shares of General Growth Properties in the 2nd quarter worth $24,573,000. Nationwide Fund Advisors grew its stake in shares of General Growth Properties by 117.8% in the 3rd 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 in the last quarter. Toronto Dominion Bank grew its stake in shares of General Growth Properties by 25.6% in the 2nd 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 in the last quarter. Finally, Tredje AP fonden boosted 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 worth $1,238,000 after purchasing an additional 7,007 shares during the period. 88.45% of the stock is owned by institutional investors and hedge funds.
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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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