Today: The General Growth Properties Inc. (GGP) Upgraded to Buy at Sandler O’Neill

The General Growth Properties Inc. (GGP) Upgraded to Buy at Sandler O’Neill

General Growth Properties Inc. (NYSE:GGP) was upgraded by analysts at Sandler O’Neill to a “buy” rating in a report released on Friday.

GGP has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. Barclays PLC boosted their price objective on shares of General Growth Properties from $29.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Credit Suisse Group AG reiterated an “outperform” rating and set a $33.00 price objective (up previously from $32.00) on shares of General Growth Properties in a research report on Wednesday, August 3rd. Hilliard Lyons began coverage on shares of General Growth Properties in a research report on Wednesday, August 31st. They set a “neutral” rating on the stock. Finally, BMO Capital Markets reiterated a “buy” rating and set a $32.00 price objective on shares of General Growth Properties in a research report on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $33.47.

Shares of General Growth Properties (NYSE:GGP) opened at 26.00 on Friday. The company’s 50 day moving average is $27.97 and its 200-day moving average is $28.86. General Growth Properties has a 52 week low of $24.43 and a 52 week high of $32.10. The stock has a market capitalization of $22.97 billion, a PE ratio of 36.21 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 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 company earned $574.60 million during the quarter, compared to analysts’ expectations of $577.90 million. During the same period last year, the firm posted $0.33 EPS. General Growth Properties’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts predict that General Growth Properties will post $1.53 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be paid a dividend of $0.20 per share. This is a boost from General Growth Properties’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. General Growth Properties’s dividend payout ratio (DPR) is presently 111.11%.

In other news, CFO Michael B. Berman sold 189,474 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $29.15, for a total transaction of $5,523,167.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John K. Haley sold 3,400 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $30.96, for a total transaction of $105,264.00. Following the sale, the director now directly owns 46,873 shares in the company, valued at approximately $1,451,188.08. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in shares of General Growth Properties by 21.7% in the third quarter. Nisa Investment Advisors LLC now owns 74,583 shares of the real estate investment trust’s stock worth $2,058,000 after buying an additional 13,323 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of General Growth Properties by 3.1% in the third quarter. Capstone Asset Management Co. now owns 46,845 shares of the real estate investment trust’s stock worth $1,293,000 after buying an additional 1,420 shares during the last quarter. Creative Planning boosted its stake in shares of General Growth Properties by 7.6% in the third quarter. Creative Planning now owns 26,562 shares of the real estate investment trust’s stock worth $733,000 after buying an additional 1,869 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of General Growth Properties by 38.1% in the second quarter. Macquarie Group Ltd. now owns 1,652,116 shares of the real estate investment trust’s stock worth $49,266,000 after buying an additional 456,180 shares during the last quarter. Finally, Williams Jones & Associates LLC purchased a new stake in shares of General Growth Properties during the second quarter worth approximately $531,000. 95.02% of the stock is currently owned by institutional investors and hedge funds.

General Growth Properties Company Profile

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