General Growth Properties Inc. (NYSE:GGP) declared a quarterly dividend on Monday, August 1st. Stockholders of record on Friday, October 14th will be paid a dividend of 0.20 per share by the real estate investment trust on Monday, October 31st. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a boost from General Growth Properties’s previous quarterly dividend of $0.19.

General Growth Properties (NYSE:GGP) opened at 26.07 on Friday. General Growth Properties has a one year low of $24.43 and a one year high of $32.10. The stock has a 50 day moving average of $28.44 and a 200 day moving average of $28.97. The firm has a market cap of $23.03 billion, a price-to-earnings ratio of 36.31 and a beta of 1.02.

General Growth Properties (NYSE:GGP) last released its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 net margin of 28.84% and a return on equity of 8.65%. General Growth Properties’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. Equities research analysts predict that General Growth Properties will post $1.53 EPS for the current fiscal year.

Dividend History for General Growth Properties (NYSE:GGP)

In related news, SVP Tara Marszewski sold 10,419 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $31.01, for a total transaction of $323,093.19. Following the transaction, the senior vice president now directly owns 7,992 shares in the company, valued at $247,831.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Mathrani sold 400,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $29.66, for a total transaction of $11,864,000.00. Following the transaction, the chief executive officer now owns 680,356 shares in the company, valued at $20,179,358.96. The disclosure for this sale can be found here. Insiders own 40.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in General Growth Properties by 16.2% in the second quarter. Raymond James & Associates now owns 124,841 shares of the real estate investment trust’s stock valued at $3,723,000 after buying an additional 17,405 shares during the period. Aew Capital Management L P boosted its position in General Growth Properties by 44.5% in the second quarter. Aew Capital Management L P now owns 979,500 shares of the real estate investment trust’s stock valued at $29,209,000 after buying an additional 301,600 shares during the period. FMR LLC boosted its position in General Growth Properties by 26.6% in the second quarter. FMR LLC now owns 24,334,941 shares of the real estate investment trust’s stock valued at $725,668,000 after buying an additional 5,110,913 shares during the period. King Luther Capital Management Corp purchased a new position in General Growth Properties during the second quarter valued at $463,000. Finally, American International Group Inc. boosted its position in General Growth Properties by 2.4% in the second quarter. American International Group Inc. now owns 249,992 shares of the real estate investment trust’s stock valued at $7,455,000 after buying an additional 5,855 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

A number of brokerages recently weighed in on GGP. Mizuho reissued a “buy” rating and set a $35.00 target price on shares of General Growth Properties in a research note on Friday, June 17th. Citigroup Inc. reissued a “buy” rating on shares of General Growth Properties in a research note on Thursday, June 30th. Zacks Investment Research downgraded shares of General Growth Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Deutsche Bank AG lifted their target price on shares of General Growth Properties from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, July 18th. Finally, Barclays PLC lifted their target price on shares of General Growth Properties from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. General Growth Properties presently has an average rating of “Buy” and a consensus price target of $33.47.

General Growth Properties Company Profile

General Growth Properties, Inc (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.

5 Day Chart for NYSE:GGP

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