General Growth Properties Inc. (NYSE:GGP) traded down 1.8% during mid-day trading on Wednesday . The stock traded as low as $27.65 and last traded at $27.72, with a volume of 1,339,117 shares changing hands. The stock had previously closed at $28.24.

Several equities research analysts recently issued reports on the company. Mizuho reissued a “buy” rating and set a $35.00 price target on shares of General Growth Properties in a research report on Friday, June 17th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $35.00 price target on shares of General Growth Properties in a research report on Wednesday, August 3rd. Deutsche Bank AG upped their price target on General Growth Properties from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Barclays PLC upped their price target on General Growth Properties from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, August 18th. Finally, BTIG Research assumed coverage on General Growth Properties in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $33.47.

The firm has a market capitalization of $24.99 billion, a P/E ratio of 39.40 and a beta of 1.07. The stock has a 50-day moving average of $29.33 and a 200-day moving average of $29.07.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/general-growth-properties-inc-ggp-shares-down-1-8.html

General Growth Properties (NYSE:GGP) last announced its quarterly earnings data on Monday, August 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. General Growth Properties had a return on equity of 8.65% and a net margin of 28.84%. The firm had revenue of $574.60 million for the quarter, compared to analyst estimates of $577.90 million. During the same period in the previous year, the business posted $0.33 EPS. General Growth Properties’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts expect that General Growth Properties Inc. will post $1.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from General Growth Properties’s previous quarterly dividend of $0.19. General Growth Properties’s dividend payout ratio (DPR) is presently 105.56%.

In other news, SVP Tara Marszewski sold 10,419 shares of General Growth Properties stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $31.01, for a total transaction of $323,093.19. Following the sale, the senior vice president now owns 7,992 shares of the company’s stock, valued at approximately $247,831.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John K. Haley sold 3,400 shares of General Growth Properties stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $30.96, for a total value of $105,264.00. Following the sale, the director now directly owns 46,873 shares in the company, valued at approximately $1,451,188.08. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Iowa State Bank purchased a new stake in shares of General Growth Properties during the second quarter valued at $122,000. Checchi Capital Advisers LLC raised its stake in shares of General Growth Properties by 25.7% in the second quarter. Checchi Capital Advisers LLC now owns 5,206 shares of the real estate investment trust’s stock valued at $155,000 after buying an additional 1,066 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of General Growth Properties by 47.2% in the second quarter. Global X Management Co. LLC now owns 6,236 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 1,999 shares during the last quarter. Advisor Group Inc. purchased a new stake in shares of General Growth Properties during the second quarter valued at $184,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of General Growth Properties by 2.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,382 shares of the real estate investment trust’s stock valued at $189,000 after buying an additional 173 shares during the last quarter. 95.02% of the stock is currently owned by institutional investors.

General Growth Properties Company Profile

General Growth Properties, Inc (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.

5 Day Chart for NYSE:GGP

Receive News & Ratings for General Growth Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Growth Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.