General Growth Properties Reaches New 52-Week High at $24.45 (GGP)
Shares of General Growth Properties (NYSE:GGP) hit a new 52-week high during trading on Tuesday , Stock Ratings Network reports. The stock traded as high as $24.45 and last traded at $24.44, with a volume of 578,834 shares trading hands. The stock had previously closed at $24.33.
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. Separately, 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. General Growth Properties has an average rating of “Buy” and an average target price of $24.89.
The stock has a 50-day moving average of $23.78 and a 200-day moving average of $22.90. The company has a market cap of $21.564 billion and a price-to-earnings ratio of 57.79.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings results on Monday, July 28th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.27 earnings per share. The company’s quarterly revenue 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.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders of record on Wednesday, October 15th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from General Growth Properties’s previous quarterly dividend of $0.15.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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