General Growth Properties, Inc. (NYSE:GGP) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.46-0.48 for the period, compared to the Thomson Reuters consensus estimate of $0.48.
General Growth Properties, Inc. (GGP) opened at 19.95 on Tuesday. The company has a market capitalization of $17.58 billion, a P/E ratio of 16.74 and a beta of 0.77. General Growth Properties, Inc. has a 52-week low of $19.80 and a 52-week high of $27.10. The firm has a 50-day moving average of $21.09 and a 200 day moving average of $22.20.
General Growth Properties (NYSE:GGP) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.22). The firm had revenue of $555.80 million during the quarter, compared to analyst estimates of $576.75 million. General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Equities analysts predict that General Growth Properties, Inc. will post $0.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.41%. General Growth Properties’s payout ratio is 73.95%.
A number of equities research analysts have recently issued reports on GGP shares. J P Morgan Chase & Co raised shares of General Growth Properties from a neutral rating to an overweight rating and set a $25.00 target price for the company in a report on Tuesday, September 26th. Zacks Investment Research lowered shares of General Growth Properties from a hold rating to a sell rating in a report on Monday, July 17th. BidaskClub lowered shares of General Growth Properties from a hold rating to a sell rating in a report on Wednesday, August 23rd. Citigroup Inc. dropped their target price on shares of General Growth Properties from $30.00 to $27.50 and set a buy rating for the company in a report on Monday, August 14th. Finally, BMO Capital Markets began coverage on shares of General Growth Properties in a report on Monday, September 11th. They set a market perform rating and a $22.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $24.82.
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General Growth Properties Company Profile
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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