General Growth Properties, Inc. (NYSE:GGP) – Equities research analysts at SunTrust Banks lowered their Q2 2017 earnings estimates for General Growth Properties in a report released on Monday. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings per share of $0.35 for the quarter, down from their previous estimate of $0.37.

General Growth Properties (NYSE:GGP) last released its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.25. The business had revenue of $566.33 million during the quarter, compared to the consensus estimate of $561.66 million. General Growth Properties had a net margin of 52.21% and a return on equity of 14.38%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. COPYRIGHT VIOLATION WARNING: This story was first reported by American Banking News and is the property of of American Banking News. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2017/07/26/suntrust-banks-analysts-cut-earnings-estimates-for-general-growth-properties-inc-ggp.html.

GGP has been the subject of several other reports. Zacks Investment Research downgraded shares of General Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) downgraded shares of General Growth Properties from a “neutral” rating to a “sell” rating and lowered their target price for the company from $23.00 to $22.00 in a research note on Tuesday, June 20th. ValuEngine upgraded shares of General Growth Properties from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Royal Bank Of Canada lowered their target price on shares of General Growth Properties from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, May 8th. Finally, BidaskClub downgraded shares of General Growth Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.96.

General Growth Properties (GGP) opened at 23.46 on Wednesday. The company has a 50-day moving average price of $23.44 and a 200 day moving average price of $23.64. General Growth Properties has a 52-week low of $21.05 and a 52-week high of $32.10. The company has a market capitalization of $20.75 billion, a PE ratio of 18.77 and a beta of 0.77.

Hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer Asset Management Inc. acquired a new position in shares of General Growth Properties during the first quarter valued at about $195,000. Perigon Wealth Management LLC acquired a new position in shares of General Growth Properties during the first quarter valued at about $197,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in shares of General Growth Properties during the first quarter valued at about $204,000. Two Sigma Securities LLC acquired a new position in shares of General Growth Properties during the first quarter valued at about $211,000. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in shares of General Growth Properties during the first quarter valued at about $213,000. 92.25% of the stock is owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Thursday, July 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.88 annualized dividend and a dividend yield of 3.75%. General Growth Properties’s dividend payout ratio (DPR) is presently 70.97%.

General Growth Properties Company Profile

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.

Earnings History and Estimates for General Growth Properties (NYSE:GGP)

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