General Growth Properties, Inc. (GGP) Given a $26.00 Price Target by SunTrust Banks, Inc. Analysts

General Growth Properties, Inc. (NYSE:GGP) has been assigned a $26.00 price objective by research analysts at SunTrust Banks, Inc. in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price objective would suggest a potential upside of 33.61% from the stock’s current price.

A number of other equities research analysts have also issued reports on GGP. Stifel Nicolaus reissued a “buy” rating and issued a $24.00 price objective on shares of General Growth Properties in a report on Wednesday. BMO Capital Markets set a $22.00 price objective on shares of General Growth Properties and gave the company a “hold” rating in a report on Tuesday. Boenning Scattergood set a $35.00 target price on shares of General Growth Properties and gave the company a “buy” rating in a research report on Wednesday. Sandler O’Neill cut 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 research report on Thursday, August 3rd. Finally, 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 research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. General Growth Properties currently has a consensus rating of “Hold” and a consensus price target of $25.46.

General Growth Properties (NYSE:GGP) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.22). General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. The firm had revenue of $555.80 million during the quarter, compared to analysts’ expectations of $576.75 million. During the same period in the prior year, the company posted $0.35 EPS.

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Several institutional investors and hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. lifted its position in shares of General Growth Properties by 7.6% during the second 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 purchasing an additional 216,668 shares in the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of General Growth Properties during the second quarter worth about $24,573,000. Renaissance Technologies LLC lifted its position in shares of General Growth Properties by 90.9% during the first quarter. Renaissance Technologies LLC now owns 849,500 shares of the real estate investment trust’s stock worth $19,691,000 after purchasing an additional 404,500 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of General Growth Properties by 117.8% during the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after purchasing an additional 224,759 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of General Growth Properties by 25.6% during the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 40,266 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors and hedge funds.

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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