General Growth Properties, Inc. (NYSE:GGP) – Stock analysts at SunTrust Banks lifted their FY2017 EPS estimates for shares of General Growth Properties in a research note issued to investors on Sunday. SunTrust Banks analyst K. Kim now forecasts that the real estate investment trust will post earnings of $1.59 per share for the year, up from their previous forecast of $1.57. SunTrust Banks also issued estimates for General Growth Properties’ Q4 2017 earnings at $0.46 EPS, FY2018 earnings at $1.59 EPS, FY2019 earnings at $1.66 EPS, FY2020 earnings at $1.74 EPS and FY2021 earnings at $1.82 EPS.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of General Growth Properties from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. BidaskClub raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) cut shares of General Growth Properties from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $23.00 to $22.00 in a research note on Tuesday, June 20th. Stifel Nicolaus started coverage on shares of General Growth Properties in a research note on Friday, July 14th. They set a “buy” rating and a $27.00 target price on the stock. Finally, ValuEngine cut shares of General Growth Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $25.92.
ILLEGAL ACTIVITY NOTICE: This report was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.themarketsdaily.com/2017/09/21/general-growth-properties-inc-ggp-to-post-fy2017-earnings-of-1-59-per-share-suntrust-banks-forecasts.html. General Growth Properties (NYSE:GGP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.22). The business had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $576.75 million. General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. During the same period in the previous year, the company earned $0.35 EPS.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.88 annualized dividend and a dividend yield of 4.24%. General Growth Properties’s payout ratio is 73.95%.
Several hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in General Growth Properties by 88.5% in the 1st quarter. First Trust Advisors LP now owns 390,959 shares of the real estate investment trust’s stock valued at $9,062,000 after buying an additional 183,500 shares during the period. Suntrust Banks Inc. raised its holdings in General Growth Properties by 21.4% in the 1st quarter. Suntrust Banks Inc. now owns 12,750 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 2,251 shares during the period. Karp Capital Management Corp purchased a new stake in General Growth Properties in the 1st quarter valued at about $3,292,000. TD Asset Management Inc. purchased a new stake in General Growth Properties in the 1st quarter valued at about $4,814,000. Finally, Mutual of America Capital Management LLC raised its holdings in General Growth Properties by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 111,164 shares of the real estate investment trust’s stock valued at $2,577,000 after buying an additional 5,817 shares during the period. 95.30% of the stock is currently owned by hedge funds and other institutional investors.
About General Growth Properties
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.
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