GGP (NYSE:GGP) had its target price decreased by analysts at Barclays from $24.00 to $23.00 in a note issued to investors on Tuesday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays’ target price points to a potential downside of 0.48% from the stock’s previous close.
A number of other research firms have also recently issued reports on GGP. Zacks Investment Research cut GGP from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Boenning Scattergood set a $35.00 price target on GGP and gave the company a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets set a $22.00 price target on GGP and gave the company a “hold” rating in a report on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price target on shares of GGP in a report on Wednesday, November 1st. Finally, SunTrust Banks set a $26.00 price target on GGP and gave the company a “buy” rating in a report on Tuesday, October 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.25.
Shares of GGP (NYSE GGP) traded down $0.33 during trading hours on Tuesday, hitting $23.11. 2,912,296 shares of the stock traded hands, compared to its average volume of 4,515,735. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.35 and a quick ratio of 1.35. GGP has a 52 week low of $18.83 and a 52 week high of $25.72. The firm has a market cap of $22,817.50, a P/E ratio of 32.08, a PEG ratio of 2.58 and a beta of 0.85.
Large investors have recently made changes to their positions in the business. FNY Partners Fund LP raised its holdings in GGP by 725.0% during the 4th quarter. FNY Partners Fund LP now owns 16,500 shares of the real estate investment trust’s stock worth $385,000 after purchasing an additional 14,500 shares during the last quarter. Lourd Capital LLC bought a new stake in GGP during the 4th quarter worth about $508,000. Robeco Institutional Asset Management B.V. raised its holdings in GGP by 110.6% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,942 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 11,522 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in GGP during the 4th quarter worth about $706,000. Finally, Twin Capital Management Inc. bought a new stake in GGP during the 4th quarter worth about $803,000. 96.48% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was posted by American Market News and is the property of of American Market News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2018/01/30/barclays-cuts-ggp-ggp-price-target-to-23-00.html.
About GGP
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.
