FY2017 EPS Estimates for General Growth Properties, Inc. (GGP) Increased by Boenning Scattergood
General Growth Properties, Inc. (NYSE:GGP) – Equities researchers at Boenning Scattergood increased their FY2017 earnings per share (EPS) estimates for General Growth Properties in a research report issued on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings per share of $1.60 for the year, up from their prior forecast of $1.59. Boenning Scattergood has a “Buy” rating and a $35.00 price objective on the stock.
General Growth Properties (NYSE:GGP) last released 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 Thomson Reuters’ consensus estimate of $0.35 by ($0.22). The firm had revenue of $555.80 million during the quarter, compared to the consensus estimate of $576.75 million. General Growth Properties had a net margin of 29.96% and a return on equity of 8.34%. During the same quarter last year, the firm earned $0.35 earnings per share.
Several other equities analysts have also weighed in on the company. SunTrust Banks, Inc. set a $26.00 price objective on General Growth Properties and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price target on shares of General Growth Properties in a report on Wednesday. BMO Capital Markets set a $22.00 price target on General Growth Properties and gave the stock a “hold” rating in a report on Tuesday. J P Morgan Chase & Co raised General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a report on Tuesday, September 26th. Finally, BidaskClub lowered General Growth Properties from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $25.46.
A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in General Growth Properties by 3.2% during the first quarter. PNC Financial Services Group Inc. now owns 31,652 shares of the real estate investment trust’s stock valued at $733,000 after buying an additional 976 shares during the period. OppenheimerFunds Inc. boosted its stake in General Growth Properties by 29.5% during the first quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock valued at $327,000 after buying an additional 3,217 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in General Growth Properties during the first quarter valued at $195,000. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in General Growth Properties during the first quarter valued at $204,000. Finally, Gotham Asset Management LLC bought a new stake in General Growth Properties during the first quarter valued at $256,000. 95.36% of the stock is owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s dividend payout ratio is 122.22%.
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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