General Growth Properties, Inc. (NYSE:GGP) PT Lowered to $27.50 at Citigroup Inc.
General Growth Properties, Inc. (NYSE:GGP) had its target price lowered by Citigroup Inc. from $30.00 to $27.50 in a research note issued to investors on Monday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Citigroup Inc.’s target price would suggest a potential upside of 26.55% from the company’s previous close.
Several other equities analysts have also recently weighed in on GGP. Sandler O’Neill cut General Growth Properties from a “buy” rating to a “hold” rating and cut their price objective for the stock from $31.00 to $24.00 in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price objective on shares of General Growth Properties in a research report on Friday, August 4th. Zacks Investment Research raised General Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Mizuho cut General Growth Properties from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $24.50 in a research report on Tuesday, May 30th. Finally, Barclays PLC lowered their price target on General Growth Properties from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.54.
Shares of General Growth Properties (NYSE GGP) traded up 2.50% on Monday, hitting $21.73. The stock had a trading volume of 4,650,649 shares. General Growth Properties has a 1-year low of $21.04 and a 1-year high of $30.07. The stock has a market cap of $19.14 billion, a P/E ratio of 18.23 and a beta of 0.77. The firm’s 50-day moving average is $22.98 and its 200 day moving average is $23.36.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.22. General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. The business had revenue of $555.80 million for the quarter, compared to analyst estimates of $576.75 million. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts forecast that General Growth Properties will post $0.52 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. bought a new stake in General Growth Properties during the first quarter valued at $195,000. Perigon Wealth Management LLC bought a new stake in General Growth Properties during the first quarter valued at $197,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in General Growth Properties during the first quarter valued at $204,000. Two Sigma Securities LLC bought a new stake in General Growth Properties during the first quarter valued at $211,000. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in General Growth Properties during the first quarter valued at $213,000. Institutional investors own 91.99% of the company’s stock.
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.
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