The General Growth Properties’ (GGP) “Outperform” Rating Reaffirmed at Oppenheimer Holdings Inc.

The General Growth Properties’ (GGP) “Outperform” Rating Reaffirmed 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. They currently have a $35.00 price objective on the real estate investment trust’s stock.

Other research analysts also recently issued research reports about the company. BTIG Research initiated coverage on General Growth Properties in a report on Thursday, August 25th. They set a buy rating and a $35.00 price objective on the stock. Citigroup Inc. reaffirmed a buy rating on shares of General Growth Properties in a report on Thursday, June 30th. Mizuho reaffirmed a buy rating and set a $35.00 price objective on shares of General Growth Properties in a report on Friday, June 17th. Deutsche Bank AG upped their price objective on General Growth Properties from $34.00 to $35.00 and gave the stock a buy rating in a report on Monday, July 18th. Finally, BMO Capital Markets reaffirmed a buy rating and set a $32.00 price objective on shares of General Growth Properties in a report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $33.47.

Shares of General Growth Properties (NYSE:GGP) traded down 0.42% on Wednesday, hitting $25.95. The stock had a trading volume of 760,284 shares. The company has a market capitalization of $22.92 billion, a P/E ratio of 36.14 and a beta of 1.02. General Growth Properties has a one year low of $24.43 and a one year high of $32.10. The firm has a 50 day moving average price of $28.06 and a 200 day moving average price of $28.88.

General Growth Properties (NYSE:GGP) last released 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. 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 firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities research analysts predict that General Growth Properties will post $1.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 14th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, October 12th. This is an increase from General Growth Properties’s previous quarterly dividend of $0.19. General Growth Properties’s dividend payout ratio (DPR) is presently 105.56%.

In other General Growth Properties news, CFO Michael B. Berman sold 189,474 shares of the stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $29.15, for a total transaction of $5,523,167.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John K. Haley sold 3,400 shares of the stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $30.96, for a total value of $105,264.00. Following the transaction, the director now owns 46,873 shares of the company’s stock, valued at approximately $1,451,188.08. The disclosure for this sale can be found here. Corporate insiders own 40.70% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Iowa State Bank purchased a new position in General Growth Properties during the second quarter worth about $122,000. Checchi Capital Advisers LLC boosted its position in General Growth Properties by 25.7% in the second quarter. Checchi Capital Advisers LLC now owns 5,206 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 1,066 shares during the period. Advisor Group Inc. purchased a new position in General Growth Properties during the second quarter worth about $184,000. Global X Management Co. LLC boosted its position in General Growth Properties by 47.2% in the second quarter. Global X Management Co. LLC now owns 6,236 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 1,999 shares during the period. Finally, Hancock Holding Co. boosted its position in General Growth Properties by 7.1% in the second quarter. Hancock Holding Co. now owns 7,870 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 95.02% of the company’s stock.

General Growth Properties Company Profile

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