General Growth Properties Reaches New 1-Year High at $24.65 (GGP)
Shares of General Growth Properties (NYSE:GGP) hit a new 52-week high during mid-day trading on Tuesday , Analyst Ratings Net reports. The stock traded as high as $24.65 and last traded at $24.49, with a volume of 1,306,935 shares. The stock had previously closed at $24.57.
Several analysts have recently commented on the stock. 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. General Growth Properties currently has a consensus rating of “Buy” and an average price target of $24.89.
The stock has a 50-day moving average of $23.9 and a 200-day moving average of $23.14. The company has a market cap of $21.635 billion and a P/E ratio of 58.36.
General Growth Properties (NYSE:GGP) last issued its quarterly earnings data 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. 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. Investors 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 2.60%. The ex-dividend date is Friday, October 10th. This is an increase 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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