General Growth Properties (GGP) Given a $35.00 Price Target at Boenning Scattergood

Boenning Scattergood set a $35.00 target price on General Growth Properties (NYSE:GGP) in a research note issued to investors on Wednesday morning. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other analysts have also recently weighed in on the stock. BMO Capital Markets set a $22.00 price objective on shares of General Growth Properties and gave the stock a hold rating in a research note on Tuesday, October 31st. BidaskClub cut shares of General Growth Properties from a hold rating to a sell rating in a research note on Wednesday, August 23rd. Citigroup reduced their price objective on shares of General Growth Properties from $30.00 to $27.50 and set a buy rating for the company in a research note on Monday, August 14th. Stifel Nicolaus restated a buy rating and issued a $24.00 price objective on shares of General Growth Properties in a research note on Wednesday, November 1st. Finally, Royal Bank Of Canada reduced their price objective on shares of General Growth Properties from $28.00 to $25.00 and set an outperform rating for the company in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. General Growth Properties currently has a consensus rating of Hold and a consensus target price of $25.46.

General Growth Properties (NYSE GGP) traded down $0.14 during midday trading on Wednesday, reaching $23.40. 5,329,700 shares of the company’s stock were exchanged, compared to its average volume of 6,441,268. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $22,268.30, a PE ratio of 15.09, a PEG ratio of 2.52 and a beta of 0.85. General Growth Properties has a 1 year low of $18.83 and a 1 year high of $26.63.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s dividend payout ratio (DPR) is currently 122.22%.

Hedge funds have recently made changes to their positions in the stock. Tredje AP fonden increased its position in General Growth Properties by 13.3% during the third quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock worth $1,238,000 after acquiring an additional 7,007 shares during the period. Toronto Dominion Bank increased its position in General Growth Properties by 25.6% during the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 40,266 shares during the period. Nationwide Fund Advisors increased its position in General Growth Properties by 117.8% during the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after acquiring an additional 224,759 shares during the period. Gluskin Sheff & Assoc Inc. bought a new position in General Growth Properties during the second quarter worth $24,573,000. Finally, UBS Asset Management Americas Inc. increased its position in General Growth Properties by 7.6% during the second quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after acquiring an additional 216,668 shares during the period. 97.46% of the stock is currently owned by institutional investors and hedge funds.

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General Growth Properties Company Profile

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 General Growth Properties (NYSE:GGP)

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