General Growth Properties, Inc. (NYSE:GGP) – Stock analysts at Boenning Scattergood cut their Q4 2017 earnings estimates for shares of General Growth Properties in a report released on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will post earnings of $0.46 per share for the quarter, down from their previous forecast of $0.47. Boenning Scattergood currently has a “Buy” rating and a $35.00 target price on the stock.
A number of other equities research analysts also recently commented on the company. SunTrust Banks set a $26.00 price objective on General Growth Properties and gave the company a “buy” rating in a research report on Tuesday, October 31st. Stifel Nicolaus reiterated a “buy” rating and set a $24.00 price objective on shares of General Growth Properties in a research report on Wednesday, November 1st. BMO Capital Markets set a $22.00 price objective on General Growth Properties and gave the company a “hold” rating in a research report on Tuesday, October 31st. J P Morgan Chase & Co upgraded General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded General Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Two 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. The company currently has a consensus rating of “Hold” and an average price target of $25.46.
A number of large investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. raised its stake in General Growth Properties by 7.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock valued at $71,904,000 after purchasing an additional 216,668 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new stake in General Growth Properties during the 2nd quarter valued at $24,573,000. Nationwide Fund Advisors raised its stake in General Growth Properties by 117.8% during the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after purchasing an additional 224,759 shares during the period. Toronto Dominion Bank raised its stake in General Growth Properties by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after purchasing an additional 40,266 shares during the period. Finally, Tredje AP fonden raised its stake in General Growth Properties by 13.3% during the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after purchasing an additional 7,007 shares during the period. 97.46% of the stock is currently owned by institutional investors.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders 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 3.76%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s dividend payout ratio (DPR) is currently 122.22%.
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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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