General Growth Properties, Inc. (GGP) to Issue $0.22 Quarterly Dividend

General Growth Properties, Inc. (NYSE:GGP) declared a quarterly dividend on Tuesday, October 31st, RTT News reports. Stockholders of record on Friday, December 15th will be given a dividend of 0.22 per share by the real estate investment trust on Friday, January 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.41%.

General Growth Properties has raised its dividend by an average of 17.1% per year over the last three years and has raised its dividend every year for the last 5 years. General Growth Properties has a payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Growth Properties to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 54.0%.

General Growth Properties (NYSE:GGP) opened at 19.95 on Tuesday. The stock’s 50 day moving average is $21.09 and its 200-day moving average is $22.20. The company has a market cap of $17.58 billion, a P/E ratio of 16.74 and a beta of 0.77. General Growth Properties has a 12-month low of $19.80 and a 12-month high of $27.10.

General Growth Properties (NYSE:GGP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. The business had revenue of $555.80 million for the quarter, compared to the consensus estimate of $576.75 million. During the same period in the prior year, the business posted $0.35 earnings per share. Analysts predict that General Growth Properties will post $0.56 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. Sandler O’Neill lowered shares of General Growth Properties from a “buy” rating to a “hold” rating and decreased their target price for the company from $31.00 to $24.00 in a report on Thursday, August 3rd. Citigroup Inc. decreased their target price on shares of General Growth Properties from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Monday, August 14th. Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 target price on shares of General Growth Properties in a report on Friday, August 4th. 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 on the stock in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.82.

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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.

Dividend History for General Growth Properties (NYSE:GGP)

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