General Growth Properties Inc. (GGP) Given “Outperform” Rating at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. reiterated their outperform rating on shares of General Growth Properties Inc. (NYSE:GGP) in a research note released on Wednesday. Oppenheimer Holdings Inc. currently has a $35.00 price objective on the real estate investment trust’s stock.

A number of other analysts have also recently commented on the company. Mizuho reaffirmed a buy rating and set a $35.00 price target on shares of General Growth Properties in a research report on Friday, June 17th. Zacks Investment Research cut General Growth Properties from a hold rating to a sell rating in a report on Wednesday, July 13th. Credit Suisse Group AG reissued an outperform rating and issued a $33.00 price objective (up previously from $32.00) on shares of General Growth Properties in a report on Wednesday, August 3rd. Hilliard Lyons assumed coverage on General Growth Properties in a report on Wednesday, August 31st. They issued a neutral rating for the company. Finally, BMO Capital Markets reissued a buy rating and issued a $32.00 price objective on shares of General Growth Properties in a report on Tuesday, August 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $32.87.

General Growth Properties (NYSE:GGP) opened at 26.20 on Wednesday. The stock has a market cap of $23.14 billion, a PE ratio of 36.49 and a beta of 1.02. General Growth Properties has a 12-month low of $24.43 and a 12-month high of $32.10. The firm’s 50-day moving average price is $27.80 and its 200 day moving average price is $28.81.

General Growth Properties (NYSE:GGP) last issued its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.01. General Growth Properties had a return on equity of 8.65% and a net margin of 28.84%. The firm had revenue of $574.60 million for the quarter, compared to analyst estimates of $577.90 million. During the same period in the prior year, the firm posted $0.33 EPS. The business’s revenue was down .9% compared to the same quarter last year. Analysts anticipate that General Growth Properties will post $1.53 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.20 per share. This is a positive change from General Growth Properties’s previous quarterly dividend of $0.19. This represents a $0.80 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, October 12th. General Growth Properties’s payout ratio is 111.11%.

In other news, CFO Michael B. Berman sold 189,474 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $29.15, for a total value of $5,523,167.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sandeep Mathrani sold 400,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $29.66, for a total value of $11,864,000.00. Following the completion of the sale, the chief executive officer now owns 680,356 shares of the company’s stock, valued at $20,179,358.96. The disclosure for this sale can be found here. Company insiders own 40.70% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. raised its stake in General Growth Properties by 0.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 11,111 shares of the real estate investment trust’s stock worth $331,000 after buying an additional 74 shares during the period. LS Investment Advisors LLC raised its stake in General Growth Properties by 0.5% in the second quarter. LS Investment Advisors LLC now owns 20,550 shares of the real estate investment trust’s stock worth $613,000 after buying an additional 109 shares during the period. Phocas Financial Corp. raised its stake in General Growth Properties by 0.9% in the first quarter. Phocas Financial Corp. now owns 25,867 shares of the real estate investment trust’s stock worth $769,000 after buying an additional 221 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in General Growth Properties by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,491 shares of the real estate investment trust’s stock worth $389,000 after buying an additional 226 shares during the period. Finally, Commonwealth Equity Services Inc raised its stake in General Growth Properties by 3.3% in the second quarter. Commonwealth Equity Services Inc now owns 8,490 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 95.01% of the company’s stock.

General Growth Properties Company Profile

General Growth Properties, Inc (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.

5 Day Chart for NYSE:GGP

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