GGP (GGP) Receives Buy Rating from Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of GGP (NYSE:GGP) in a research report report published on Monday morning. The brokerage currently has a $24.00 price objective on the real estate investment trust’s stock.

A number of other equities analysts have also recently commented on the company. Sandler O’Neill set a $22.00 target price on GGP and gave the company a sell rating in a report on Thursday, February 8th. Boenning Scattergood set a $35.00 target price on GGP and gave the company a buy rating in a report on Thursday, February 8th. ValuEngine cut GGP from a buy rating to a hold rating in a report on Friday, February 2nd. Barclays reduced their target price on GGP from $24.00 to $23.00 and set an equal weight rating for the company in a report on Tuesday, January 30th. Finally, Zacks Investment Research lowered GGP from a hold rating to a sell rating in a research report on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $25.00.

GGP (NYSE GGP) opened at $21.76 on Monday. GGP has a fifty-two week low of $18.83 and a fifty-two week high of $25.69. The company has a market capitalization of $21,525.94, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 1.35 and a debt-to-equity ratio of 1.51.

GGP (NYSE:GGP) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. GGP had a return on equity of 7.87% and a net margin of 28.24%. The business had revenue of $627.40 million during the quarter, compared to analysts’ expectations of $646.14 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. equities research analysts expect that GGP will post 1.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a $0.22 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.04%. GGP’s dividend payout ratio (DPR) is presently 127.54%.

Hedge funds have recently bought and sold shares of the company. Bbva Compass Bancshares Inc. purchased a new stake in shares of GGP in the fourth quarter valued at approximately $200,000. Guardian Capital Advisors LP purchased a new position in GGP in the fourth quarter worth approximately $207,000. DLD Asset Management LP purchased a new position in GGP in the fourth quarter worth approximately $211,000. Signaturefd LLC purchased a new position in GGP in the fourth quarter worth approximately $211,000. Finally, IBM Retirement Fund purchased a new position in GGP in the fourth quarter worth approximately $214,000. Institutional investors and hedge funds own 95.31% of the company’s stock.

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GGP 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 GGP (NYSE:GGP)

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