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.
WARNING: This piece of content was originally published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international copyright laws. The original version of this piece of content can be read at https://www.com-unik.info/2017/10/31/general-growth-properties-inc-ggp-to-issue-0-22-quarterly-dividend.html.
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.
What are top analysts saying about General Growth Properties Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for General Growth Properties Inc. and related companies.