General Growth Properties Inc. (GGP) Rating Increased to Buy at Sandler O’Neill

General Growth Properties Inc. (NYSE:GGP) was upgraded by equities researchers at Sandler O’Neill from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $31.00 price objective on the real estate investment trust’s stock. Sandler O’Neill’s price target points to a potential upside of 18.32% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. Mizuho reiterated a “buy” rating and set a $35.00 target price on shares of General Growth Properties in a research note on Friday, June 17th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $35.00 price objective on shares of General Growth Properties in a research note on Wednesday, October 12th. Zacks Investment Research cut General Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Credit Suisse Group AG restated an “outperform” rating and issued a $33.00 price objective (up from $32.00) on shares of General Growth Properties in a research note on Wednesday, August 3rd. Finally, Hilliard Lyons assumed coverage on General Growth Properties in a research note on Wednesday, August 31st. They issued a “neutral” rating on the stock. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. General Growth Properties presently has a consensus rating of “Buy” and an average target price of $32.87.

Analyst Recommendations for General Growth Properties (NYSE:GGP)

Shares of General Growth Properties (NYSE:GGP) opened at 26.20 on Friday. General Growth Properties has a 1-year low of $24.43 and a 1-year high of $32.10. The stock has a 50 day moving average of $27.80 and a 200-day moving average of $28.81. The firm has a market capitalization of $23.14 billion, a P/E ratio of 36.49 and a beta of 1.02.

General Growth Properties (NYSE:GGP) last released its 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. The business had revenue of $574.60 million for the quarter, compared to the consensus estimate of $577.90 million. General Growth Properties had a return on equity of 8.65% and a net margin of 28.84%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts expect that General Growth Properties will post $1.53 earnings per share for the current year.

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

In other General Growth Properties news, SVP Tara Marszewski sold 10,419 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $31.01, for a total value of $323,093.19. Following the completion of the sale, the senior vice president now owns 7,992 shares of the company’s stock, valued at $247,831.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sandeep Mathrani sold 400,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was 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 directly owns 680,356 shares of the company’s stock, valued at approximately $20,179,358.96. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Shine Investment Advisory Services Inc. raised its stake in shares of 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 valued at $331,000 after buying an additional 74 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of 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 valued at $613,000 after buying an additional 109 shares in the last quarter. Phocas Financial Corp. raised its stake in shares of 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 valued at $769,000 after buying an additional 221 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of 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 valued at $389,000 after buying an additional 226 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in shares of 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 valued at $253,000 after buying an additional 272 shares in the last quarter. 95.01% of the stock is owned by institutional investors and hedge funds.

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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