General Growth Properties, Inc. (GGP) Earns “Buy” Rating from Stifel Nicolaus
General Growth Properties, Inc. (NYSE:GGP)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a note issued to investors on Wednesday. They currently have a $24.00 target price on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 23.33% from the company’s previous close.
Other analysts also recently issued reports about the company. Boenning Scattergood reiterated a “buy” rating and set a $34.50 target price on shares of General Growth Properties in a research report on Wednesday. Citigroup Inc. cut their target price on General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Monday, August 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 target price on shares of General Growth Properties in a research report on Friday, August 4th. Zacks Investment Research upgraded General Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Sandler O’Neill downgraded General Growth Properties from a “buy” rating to a “hold” rating and cut their target price for the company from $31.00 to $24.00 in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $25.38.
General Growth Properties (NYSE:GGP) opened at 19.46 on Wednesday. General Growth Properties has a 1-year low of $18.86 and a 1-year high of $27.10. The firm’s 50-day moving average price is $21.03 and its 200 day moving average price is $22.18. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 16.33 and a beta of 0.77.
General Growth Properties (NYSE:GGP) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The company had revenue of $555.80 million for the quarter, compared to the consensus estimate of $576.75 million. General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. During the same quarter in the previous year, the company posted $0.35 earnings per share. On average, analysts predict that General Growth Properties will post $0.56 EPS for the current year.
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A number of institutional investors and hedge funds have recently modified their holdings of GGP. Oppenheimer Asset Management Inc. acquired a new position in General Growth Properties in the 1st quarter worth about $195,000. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new position in General Growth Properties in the 1st quarter worth about $204,000. Gotham Asset Management LLC acquired a new position in General Growth Properties in the 1st quarter worth about $256,000. OppenheimerFunds Inc. increased its holdings in General Growth Properties by 29.5% in the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 3,217 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in General Growth Properties by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,652 shares of the real estate investment trust’s stock worth $733,000 after purchasing an additional 976 shares in the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.
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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