General Growth Properties Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:GGP)
General Growth Properties (NYSE:GGP) has earned a consensus rating of “Buy” from the thirteen analysts that are currently covering the stock, Analyst Ratings Net reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $24.89.
General Growth Properties (NYSE:GGP) opened at 24.27 on Friday. General Growth Properties has a 52 week low of $18.67 and a 52 week high of $24.60. The stock has a 50-day moving average of $23.91 and a 200-day moving average of $23.11. The company has a market cap of $21.449 billion and a P/E ratio of 57.65.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, July 28th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.27 earnings per share. General Growth Properties’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that General Growth Properties will post $1.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Investors of record on Wednesday, October 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, October 10th. This is an increase from General Growth Properties’s previous quarterly dividend of $0.15.
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.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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