Stifel Nicolaus assumed coverage on shares of General Growth Properties, Inc. (NYSE:GGP) in a report published on Friday, July 14th, MarketBeat Ratings reports. The brokerage issued a buy rating and a $27.00 price target on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of General Growth Properties from a hold rating to a sell rating in a research note on Wednesday, April 26th. Royal Bank Of Canada dropped their price objective on shares of General Growth Properties from $29.00 to $28.00 and set an outperform rating on the stock in a research note on Monday, May 8th. Goldman Sachs Group, Inc. (The) downgraded shares of General Growth Properties from a neutral rating to a sell rating and dropped their price objective for the company from $23.00 to $22.00 in a research note on Tuesday, June 20th. BidaskClub upgraded shares of General Growth Properties from a sell rating to a hold rating in a research note on Saturday, June 17th. Finally, ValuEngine upgraded shares of General Growth Properties from a hold rating to a buy rating in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. General Growth Properties presently has a consensus rating of Hold and a consensus price target of $28.12.

General Growth Properties (GGP) traded down 1.19% during trading on Friday, hitting $22.51. The stock had a trading volume of 6,023,939 shares. General Growth Properties has a 52 week low of $21.05 and a 52 week high of $31.35. The stock has a market capitalization of $19.60 billion, a P/E ratio of 18.84 and a beta of 0.77. The company has a 50-day moving average of $23.29 and a 200-day moving average of $23.52.

General Growth Properties (NYSE:GGP) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.22. The company had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $576.75 million. General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. During the same period last year, the business posted $0.35 earnings per share. On average, equities analysts expect that General Growth Properties will post $0.52 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “General Growth Properties, Inc. (GGP) Now Covered by Stifel Nicolaus” was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/08/stifel-nicolaus-initiates-coverage-on-general-growth-properties-inc-ggp-updated-updated-updated.html.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 dividend on an annualized basis and a yield of 3.91%. General Growth Properties’s payout ratio is presently 73.95%.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in General Growth Properties by 2,204.0% in the first quarter. BlackRock Inc. now owns 53,382,888 shares of the real estate investment trust’s stock worth $1,237,416,000 after buying an additional 51,065,960 shares during the last quarter. Morgan Stanley raised its position in General Growth Properties by 27.8% in the first quarter. Morgan Stanley now owns 20,801,466 shares of the real estate investment trust’s stock worth $482,178,000 after buying an additional 4,522,511 shares during the last quarter. JPMorgan Chase & Co. raised its position in General Growth Properties by 55.9% in the first quarter. JPMorgan Chase & Co. now owns 8,073,066 shares of the real estate investment trust’s stock worth $187,133,000 after buying an additional 2,894,391 shares during the last quarter. Vanguard Group Inc. raised its position in General Growth Properties by 1.5% in the first quarter. Vanguard Group Inc. now owns 84,148,460 shares of the real estate investment trust’s stock worth $1,950,561,000 after buying an additional 1,257,355 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in General Growth Properties by 87.6% in the first quarter. Alliancebernstein L.P. now owns 2,644,866 shares of the real estate investment trust’s stock worth $61,308,000 after buying an additional 1,234,895 shares during the last quarter. Hedge funds and other institutional investors own 92.65% of the company’s stock.

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.

Analyst Recommendations for General Growth Properties (NYSE:GGP)

Receive News & Stock Ratings for General Growth Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Growth Properties Inc. and related stocks with our FREE daily email newsletter.