General Growth Properties Inc. (NYSE:GGP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “General Growth Properties reported third-quarter 2016 adjusted funds from operations (FFO) per share of $0.35, which came in line with the Zacks Consensus Estimate but fell short of the prior-year quarter figure of $0.36. Also, the company reported weaker-than-expected revenues in the quarter. Notably, in September, the company and Simon Property, together with brand development company Authentic Brands Group announced that the acquisition of the apparel and accessories brand, Aeropostale, has been finalized. However, despite the company having chances to benefit from its solid tenant base and portfolio repositioning moves, top line growth is anticipated to remain elusive amid a rise in online sales and stiff competition as well as a possible hike in interest rate.”

Several other research firms also recently commented on GGP. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 price target on shares of General Growth Properties in a research report on Tuesday, August 2nd. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $35.00 price objective on shares of General Growth Properties in a research report on Wednesday, August 3rd. Credit Suisse Group AG restated 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. Citigroup Inc. upped their price objective on shares of General Growth Properties from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Finally, Barclays PLC upped their price objective on shares of General Growth Properties from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $32.87.

Analyst Recommendations for General Growth Properties (NYSE:GGP)

General Growth Properties (NYSE:GGP) opened at 25.45 on Wednesday. General Growth Properties has a 1-year low of $23.89 and a 1-year high of $32.10. The stock has a market capitalization of $22.53 billion, a P/E ratio of 19.73 and a beta of 0.86. The stock has a 50 day moving average of $25.83 and a 200 day moving average of $28.26.

General Growth Properties (NYSE:GGP) last released its quarterly earnings results on Tuesday, November 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 net margin of 52.33% and a return on equity of 15.19%. The business earned $554.50 million during the quarter, compared to analysts’ expectations of $564.02 million. During the same quarter last year, the company earned $0.33 EPS. On average, analysts expect that General Growth Properties will post $1.53 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Thursday, December 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.46%. This is a boost from General Growth Properties’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, December 13th. General Growth Properties’s dividend payout ratio is presently 62.02%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGP. Quantbot Technologies LP raised its position in General Growth Properties by 184.2% in the second quarter. Quantbot Technologies LP now owns 191,721 shares of the real estate investment trust’s stock worth $5,717,000 after buying an additional 124,260 shares during the period. Shinko Asset Management Co. Ltd. raised its position in General Growth Properties by 87.8% in the second quarter. Shinko Asset Management Co. Ltd. now owns 1,364,757 shares of the real estate investment trust’s stock worth $40,697,000 after buying an additional 638,000 shares during the period. Heitman Real Estate Securities LLC raised its position in General Growth Properties by 10.1% in the first quarter. Heitman Real Estate Securities LLC now owns 6,453,892 shares of the real estate investment trust’s stock worth $191,874,000 after buying an additional 592,446 shares during the period. PGGM Investments raised its position in General Growth Properties by 7.3% in the second quarter. PGGM Investments now owns 14,742,682 shares of the real estate investment trust’s stock worth $439,627,000 after buying an additional 1,000,000 shares during the period. Finally, Bank of New York Mellon Corp raised its position in General Growth Properties by 10.8% in the second quarter. Bank of New York Mellon Corp now owns 13,574,700 shares of the real estate investment trust’s stock worth $404,796,000 after buying an additional 1,319,230 shares during the period. Institutional investors own 95.60% of the company’s stock.

About General Growth Properties

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.

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