SunTrust Banks, Inc. Analysts Give General Growth Properties, Inc. (GGP) a $26.00 Price Target
General Growth Properties, Inc. (NYSE:GGP) has been assigned a $26.00 price objective by equities research analysts at SunTrust Banks, Inc. in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective would indicate a potential upside of 33.61% from the stock’s previous close.
Several other research firms have also recently weighed in on GGP. Zacks Investment Research cut General Growth Properties from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub upgraded General Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Stifel Nicolaus began coverage on General Growth Properties in a research note on Friday, July 14th. They issued a “buy” rating and a $27.00 price target for the company. Sandler O’Neill cut General Growth Properties from a “buy” rating to a “hold” rating and decreased their price target for the stock from $31.00 to $24.00 in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $28.00 price target on shares of General Growth Properties in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. General Growth Properties presently has an average rating of “Hold” and an average price target of $25.46.
General Growth Properties (NYSE GGP) traded up 0.05% during midday trading on Tuesday, reaching $19.47. The company had a trading volume of 5,175,974 shares. The company has a 50-day moving average of $21.03 and a 200-day moving average of $22.18. The stock has a market capitalization of $17.15 billion, a PE ratio of 16.33 and a beta of 0.77. General Growth Properties has a 12-month low of $18.86 and a 12-month high of $27.10.
General Growth Properties (NYSE:GGP) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $555.80 million during the quarter, compared to the consensus estimate of $576.75 million. During the same period last year, the firm posted $0.35 earnings per share. On average, analysts predict that General Growth Properties will post $0.56 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its position in General Growth Properties by 7.6% in the second quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after buying an additional 216,668 shares in the last quarter. Gluskin Sheff & Assoc Inc. bought a new position in shares of General Growth Properties in the second quarter worth about $24,573,000. Renaissance Technologies LLC boosted its stake in shares of General Growth Properties by 90.9% in the first quarter. Renaissance Technologies LLC now owns 849,500 shares of the real estate investment trust’s stock worth $19,691,000 after acquiring an additional 404,500 shares during the period. Nationwide Fund Advisors boosted its stake in shares of General Growth Properties by 117.8% in the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after acquiring an additional 224,759 shares during the period. Finally, Toronto Dominion Bank boosted its stake in shares of General Growth Properties by 25.6% in the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 40,266 shares during the period. Institutional investors and hedge funds 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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