Boenning Scattergood set a $35.00 price target on General Growth Properties (NYSE:GGP) in a research report sent to investors on Tuesday, November 14th. The firm currently has a buy rating on the real estate investment trust’s stock.
GGP has been the subject of several other reports. Zacks Investment Research cut General Growth Properties from a hold rating to a sell rating in a research note on Monday, July 17th. BidaskClub raised General Growth Properties from a sell rating to a hold rating in a research note on Wednesday, July 19th. Sandler O’Neill cut General Growth Properties from a buy rating to a hold rating and lowered their price objective for the stock from $31.00 to $24.00 in a research report on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a buy rating and set a $28.00 price objective on shares of General Growth Properties in a research report on Friday, August 4th. Finally, BMO Capital Markets started coverage on General Growth Properties in a research report on Monday, September 11th. They set a market perform rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $25.42.
General Growth Properties (GGP) traded up $0.09 during mid-day trading on Tuesday, hitting $23.59. The company had a trading volume of 5,310,000 shares, compared to its average volume of 12,535,023. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $22,315.60, a P/E ratio of 15.12, a PEG ratio of 2.51 and a beta of 0.84. General Growth Properties has a 52-week low of $18.83 and a 52-week high of $26.63.
Several hedge funds have recently modified their holdings of GGP. OppenheimerFunds Inc. raised its stake in shares of General Growth Properties by 29.5% during the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 3,217 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of General Growth Properties by 7.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after acquiring an additional 216,668 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of General Growth Properties in the 2nd quarter worth approximately $24,573,000. Toronto Dominion Bank grew its holdings in shares of General Growth Properties by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 40,266 shares during the period. Finally, Nationwide Fund Advisors grew its holdings in shares of General Growth Properties by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after acquiring an additional 224,759 shares during the period. 97.24% of the stock is owned by institutional investors and hedge funds.
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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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