Brokerages predict that General Growth Properties, Inc. (NYSE:GGP) will announce $576.75 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for General Growth Properties’ earnings, with the lowest sales estimate coming in at $564.80 million and the highest estimate coming in at $585.24 million. General Growth Properties posted sales of $574.59 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.4%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, August 2nd.

On average, analysts expect that General Growth Properties will report full-year sales of $576.75 million for the current fiscal year, with estimates ranging from $2.35 billion to $2.42 billion. For the next year, analysts anticipate that the firm will post sales of $2.50 billion per share, with estimates ranging from $2.45 billion to $2.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow General Growth Properties.

General Growth Properties (NYSE:GGP) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.25. The company had revenue of $566.33 million for the quarter, compared to analyst estimates of $561.66 million. General Growth Properties had a return on equity of 14.38% and a net margin of 52.21%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share.

A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus started coverage on shares of General Growth Properties in a research report on Friday, July 14th. They set a “buy” rating and a $27.00 target price on the stock. Royal Bank Of Canada decreased their target price on shares of General Growth Properties from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, May 15th. Mizuho lowered shares of General Growth Properties from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $30.00 to $24.50 in a research report on Tuesday, May 30th. Finally, Barclays PLC decreased their target price on shares of General Growth Properties from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Friday, June 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $28.96.

Shares of General Growth Properties (GGP) traded up 1.20% on Wednesday, hitting $23.68. The stock had a trading volume of 3,236,580 shares. The company’s 50 day moving average is $23.33 and its 200 day moving average is $23.69. The stock has a market cap of $20.95 billion, a PE ratio of 18.94 and a beta of 0.77. General Growth Properties has a one year low of $21.05 and a one year high of $32.10.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Thursday, July 13th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.72%. General Growth Properties’s dividend payout ratio (DPR) is presently 70.97%.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of General Growth Properties by 2,204.0% in the first quarter. BlackRock Inc. now owns 53,382,888 shares of the real estate investment trust’s stock worth $1,237,416,000 after buying an additional 51,065,960 shares in the last quarter. Morgan Stanley increased its position in shares of General Growth Properties by 27.8% in the first quarter. Morgan Stanley now owns 20,801,466 shares of the real estate investment trust’s stock worth $482,178,000 after buying an additional 4,522,511 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of General Growth Properties by 55.9% in the first quarter. JPMorgan Chase & Co. now owns 8,073,066 shares of the real estate investment trust’s stock worth $187,133,000 after buying an additional 2,894,391 shares in the last quarter. Vanguard Group Inc. increased its position in shares of General Growth Properties by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,148,460 shares of the real estate investment trust’s stock worth $1,950,561,000 after buying an additional 1,257,355 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of General Growth Properties by 87.6% in the first quarter. Alliancebernstein L.P. now owns 2,644,866 shares of the real estate investment trust’s stock worth $61,308,000 after buying an additional 1,234,895 shares in the last quarter. 92.20% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: “General Growth Properties, Inc. (GGP) Expected to Announce Quarterly Sales of $576.75 Million” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/07/19/general-growth-properties-inc-ggp-expected-to-announce-quarterly-sales-of-576-75-million.html.

About General Growth Properties

GGP Inc (GGP), formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.

Get a free copy of the Zacks research report on General Growth Properties (GGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for General Growth Properties (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.