General Growth Properties Price Target Increased to $23.00 by Analysts at RBC Capital (GGP)
Analysts at RBC Capital lifted their price objective on shares of General Growth Properties (NYSE:GGP) from $22.00 to $23.00 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 6.68% from the company’s current price.
General Growth Properties (NYSE:GGP) traded up 1.55% during mid-day trading on Wednesday, hitting $21.56. The stock had a trading volume of 4,138,399 shares. General Growth Properties has a 52-week low of $18.24 and a 52-week high of $23.33. The stock’s 50-day moving average is $20.24 and its 200-day moving average is $20.6. The company has a market cap of $20.254 billion and a P/E ratio of 1248.82.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, October 28th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.02. The company had revenue of $620.70 million for the quarter, compared to the consensus estimate of $656.60 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that General Growth Properties will post $1.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, December 11th. This is a boost from General Growth Properties’s previous quarterly dividend of $0.13.
A number of other firms have also recently commented on GGP. Analysts at Credit Suisse initiated coverage on shares of General Growth Properties in a research note to investors on Thursday, September 19th. They set a “neutral” rating and a $21.00 price target on the stock. Separately, analysts at Janney Montgomery Scott initiated coverage on shares of General Growth Properties in a research note to investors on Tuesday, September 10th. They set a “neutral” rating on the stock. Finally, analysts at BMO Capital Markets downgraded shares of General Growth Properties from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $22.06.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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