General Growth Properties Inc (GGP) Declares Quarterly Dividend of $0.16
General Growth Properties (NYSE:GGP) declared a quarterly dividend on Tuesday, August 12th, Stock Ratings News reports. Shareholders of record on Wednesday, October 15th will be given a dividend of 0.16 per share on Friday, October 31st. This represents a $0.64 dividend on an annualized basis and a yield of 2.69%.
A number of research firms have recently commented on GGP. Analysts at Deutsche Bank raised their price target on shares of General Growth Properties from $26.00 to $27.00 in a research note on Tuesday, August 5th. They now have a “buy” rating on the stock. On a related note, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of General Growth Properties in a research note on Tuesday, July 29th. They now have a $26.00 price target on the stock, up previously from $25.00. Finally, analysts at Barclays raised their price target on shares of General Growth Properties from $27.00 to $28.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. General Growth Properties presently has an average rating of “Buy” and an average target price of $24.89.
Shares of General Growth Properties (NYSE:GGP) traded down 0.04% during mid-day trading on Tuesday, hitting $23.80. 2,300,008 shares of the company’s stock traded hands. General Growth Properties has a 52-week low of $18.67 and a 52-week high of $24.38. The stock’s 50-day moving average is $23.71 and its 200-day moving average is $22.7. The company has a market cap of $21.034 billion and a P/E ratio of 56.56.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, July 28th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $617.62 million for the quarter, compared to the consensus estimate of $606.60 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts predict that General Growth Properties will post $1.32 earnings per share for the current fiscal year.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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