Mizuho reiterated their hold rating on shares of GGP (NYSE:GGP) in a research report released on Friday, February 16th. They currently have a $22.00 price target on the real estate investment trust’s stock.
A number of other brokerages also recently weighed in on GGP. ValuEngine downgraded shares of GGP from a buy rating to a hold rating in a report on Friday, February 2nd. Boenning Scattergood restated a buy rating and issued a $34.50 price objective on shares of GGP in a research note on Tuesday, November 21st. SunTrust Banks set a $26.00 price objective on GGP and gave the company a buy rating in a research note on Tuesday, October 31st. Royal Bank of Canada reiterated a buy rating and set a $24.00 price target on shares of GGP in a research report on Monday, February 12th. Finally, Stifel Nicolaus reiterated a buy rating and set a $24.00 price target on shares of GGP in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $24.79.
GGP (GGP) traded up $0.26 during midday trading on Friday, reaching $21.69. 3,840,248 shares of the company traded hands, compared to its average volume of 4,970,000. GGP has a twelve month low of $18.83 and a twelve month high of $24.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51. The firm has a market cap of $20,760.00, a P/E ratio of 32.86, a P/E/G ratio of 2.38 and a beta of 0.90.
GGP (NYSE:GGP) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $646.14 million. GGP had a net margin of 28.24% and a return on equity of 7.87%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. sell-side analysts anticipate that GGP will post 1.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.06%. GGP’s dividend payout ratio is presently 133.33%.
Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in GGP by 7.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 46,183 shares of the real estate investment trust’s stock worth $1,080,000 after purchasing an additional 3,022 shares in the last quarter. Norinchukin Bank The raised its holdings in GGP by 7.1% in the fourth quarter. Norinchukin Bank The now owns 49,918 shares of the real estate investment trust’s stock worth $1,168,000 after purchasing an additional 3,308 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in GGP by 2.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,572 shares of the real estate investment trust’s stock worth $4,060,000 after purchasing an additional 3,623 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of GGP by 3.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 117,636 shares of the real estate investment trust’s stock valued at $2,752,000 after acquiring an additional 3,926 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of GGP by 13.2% during the fourth quarter. M&T Bank Corp now owns 40,589 shares of the real estate investment trust’s stock valued at $950,000 after acquiring an additional 4,733 shares in the last quarter. Institutional investors own 95.89% of the company’s stock.
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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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