Boenning Scattergood set a $35.00 price target on General Growth Properties, Inc. (NYSE:GGP) in a report published on Wednesday, November 1st. The firm currently has a buy rating on the real estate investment trust’s stock. Boenning Scattergood also issued estimates for General Growth Properties’ FY2017 earnings at $1.60 EPS.
Several other research firms have also commented on GGP. Zacks Investment Research lowered General Growth Properties from a hold rating to a sell rating in a report on Monday, July 17th. BidaskClub raised General Growth Properties from a sell rating to a hold rating in a report on Wednesday, July 19th. Stifel Nicolaus initiated coverage on General Growth Properties in a report on Friday, July 14th. They set a buy rating and a $27.00 price objective on the stock. BMO Capital Markets set a $22.00 price objective on General Growth Properties and gave the stock a hold rating in a report on Tuesday, October 31st. Finally, Royal Bank Of Canada lowered their price target on General Growth Properties from $28.00 to $25.00 and set an outperform rating on the stock in a report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $25.46.
Shares of General Growth Properties (NYSE GGP) traded down $0.23 during midday trading on Wednesday, hitting $23.43. The stock had a trading volume of 13,203,614 shares, compared to its average volume of 6,439,314. The firm has a market capitalization of $22,380.00, a PE ratio of 15.17, a P/E/G ratio of 2.52 and a beta of 0.79. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35. General Growth Properties has a twelve month low of $18.83 and a twelve month high of $26.63.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Oppenheimer Asset Management Inc. acquired a new stake in shares of General Growth Properties in the 1st quarter worth approximately $195,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of General Growth Properties in the 1st quarter valued at approximately $204,000. Gotham Asset Management LLC purchased a new stake in shares of General Growth Properties in the 1st quarter valued at approximately $256,000. OppenheimerFunds Inc. lifted its position in shares of General Growth Properties by 29.5% in the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock valued at $327,000 after acquiring an additional 3,217 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of General Growth Properties by 3.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 31,652 shares of the real estate investment trust’s stock valued at $733,000 after acquiring an additional 976 shares in the last quarter. Hedge funds and other institutional investors own 88.45% 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.
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