General Growth Properties, Inc. (GGP) Given a $22.00 Price Target at BMO Capital Markets
General Growth Properties, Inc. (NYSE:GGP) has been given a $22.00 target price by equities researchers at BMO Capital Markets in a research note issued on Tuesday. The firm currently has a “hold” rating on the real estate investment trust’s stock. BMO Capital Markets’ price target suggests a potential upside of 10.28% from the stock’s current price.
A number of other equities analysts have also weighed in on GGP. Sandler O’Neill lowered General Growth Properties from a “buy” rating to a “hold” rating and decreased their target price for the stock from $31.00 to $24.00 in a research report on Thursday, August 3rd. Citigroup Inc. decreased their target price on 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. Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 target price on shares of General Growth Properties in a research report on Friday, August 4th. J P Morgan Chase & Co raised General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised General Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. General Growth Properties currently has an average rating of “Hold” and an average price target of $24.82.
General Growth Properties (NYSE GGP) traded down 4.8125% during mid-day trading on Tuesday, hitting $18.9899. 3,330,395 shares of the stock traded hands. The firm’s 50-day moving average is $21.09 and its 200 day moving average is $22.20. The firm has a market cap of $16.73 billion, a P/E ratio of 15.9311 and a beta of 0.77. General Growth Properties has a 52-week low of $18.86 and a 52-week high of $27.10.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). The company had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $576.75 million. General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. During the same period in the prior year, the firm earned $0.35 EPS. Equities analysts predict that General Growth Properties will post $0.56 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in GGP. OppenheimerFunds Inc. grew its stake in shares of General Growth Properties by 29.5% during the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 3,217 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of General Growth Properties by 3.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 31,652 shares of the real estate investment trust’s stock valued at $733,000 after acquiring an additional 976 shares during the period. Renaissance Technologies LLC grew its stake in shares of General Growth Properties by 90.9% during the 1st quarter. Renaissance Technologies LLC now owns 849,500 shares of the real estate investment trust’s stock valued at $19,691,000 after acquiring an additional 404,500 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of General Growth Properties during the 1st quarter valued at approximately $195,000. Finally, Gotham Asset Management LLC bought a new position in shares of General Growth Properties during the 1st quarter valued at approximately $256,000. Institutional investors own 95.36% of the company’s stock.
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.
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