Royal Bank of Canada Reiterates Buy Rating for GGP (GGP)

GGP (NYSE:GGP)‘s stock had its “buy” rating restated by analysts at Royal Bank of Canada in a research report issued on Monday. They presently have a $24.00 price target on the real estate investment trust’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 8.06% from the stock’s current price.

GGP has been the topic of several other reports. Boenning Scattergood set a $35.00 price objective on shares of GGP and gave the company a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research lowered shares of GGP from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Stifel Nicolaus restated a “buy” rating and issued a $24.00 price objective on shares of GGP in a report on Wednesday, November 1st. BMO Capital Markets set a $22.00 price objective on shares of GGP and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, Barclays cut their price objective on shares of GGP from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $25.00.

GGP (NYSE:GGP) opened at $22.21 on Monday. GGP has a twelve month low of $18.83 and a twelve month high of $25.72. The firm has a market cap of $21,248.49, a P/E ratio of 32.19, a P/E/G ratio of 2.42 and a beta of 0.84. The company has a quick ratio of 1.35, a current ratio of 1.00 and a debt-to-equity ratio of 1.51.

GGP (NYSE:GGP) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. GGP had a net margin of 28.24% and a return on equity of 7.87%. The business had revenue of $627.40 million for the quarter, compared to analyst estimates of $646.14 million. During the same period in the prior year, the business posted $0.43 earnings per share. GGP’s revenue was up 2.8% compared to the same quarter last year. equities analysts predict that GGP will post 1.59 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. IBM Retirement Fund acquired a new stake in GGP in the fourth quarter worth $214,000. Suntrust Banks Inc. acquired a new stake in GGP in the fourth quarter worth $215,000. Levin Capital Strategies L.P. acquired a new stake in GGP in the fourth quarter worth $215,000. FNY Partners Fund LP raised its holdings in GGP by 725.0% in the fourth 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 period. Finally, US Bancorp DE raised its holdings in GGP by 39.5% in the fourth quarter. US Bancorp DE now owns 21,313 shares of the real estate investment trust’s stock worth $498,000 after purchasing an additional 6,038 shares during the period. Institutional investors own 95.31% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Royal Bank of Canada Reiterates Buy Rating for GGP (GGP)” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/12/royal-bank-of-canada-reiterates-buy-rating-for-ggp-ggp.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.

Analyst Recommendations for GGP (NYSE:GGP)

Receive News & Ratings for GGP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GGP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply