Brokerages Anticipate General Growth Properties, Inc. (GGP) Will Announce Quarterly Sales of $582.42 Million
Equities research analysts predict that General Growth Properties, Inc. (NYSE:GGP) will post $582.42 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for General Growth Properties’ earnings, with estimates ranging from $569.06 million to $594.20 million. General Growth Properties posted sales of $554.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is expected to issue its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that General Growth Properties will report full-year sales of $582.42 million for the current financial year, with estimates ranging from $2.33 billion to $2.42 billion. For the next fiscal year, analysts expect that the business will post sales of $2.47 billion per share, with estimates ranging from $2.45 billion to $2.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover General Growth Properties.
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 analysts’ consensus estimates of $0.35 by ($0.22). The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $576.75 million. General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. During the same period in the prior year, the firm earned $0.35 EPS.
Several research firms have recently weighed in on GGP. BMO Capital Markets began coverage on shares of General Growth Properties in a research report on Monday. They set a “market perform” rating and a $22.00 price objective for the company. BidaskClub lowered shares of General Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Royal Bank Of Canada reduced their price objective on shares of General Growth Properties from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Thursday, August 17th. Citigroup Inc. reduced their price objective on shares of General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $25.92.
General Growth Properties (GGP) opened at 21.53 on Thursday. The firm has a market cap of $18.97 billion, a price-to-earnings ratio of 18.06 and a beta of 0.75. The stock has a 50 day moving average of $21.64 and a 200-day moving average of $22.78. General Growth Properties has a 52-week low of $20.31 and a 52-week high of $28.90.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, October 12th. General Growth Properties’s dividend payout ratio is currently 73.95%.
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Institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. bought a new stake in shares of General Growth Properties during the 1st quarter worth approximately $195,000. Perigon Wealth Management LLC bought a new stake in shares of General Growth Properties during the 1st quarter worth approximately $197,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of General Growth Properties during the 1st quarter worth approximately $204,000. Two Sigma Securities LLC bought a new stake in shares of General Growth Properties during the 1st quarter worth approximately $211,000. Finally, Keybank National Association OH bought a new stake in shares of General Growth Properties during the 1st quarter worth approximately $216,000. Institutional investors own 95.32% 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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