GGP’s (GGP) Buy Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of GGP (NYSE:GGP) in a research report sent to investors on Monday. They currently have a $24.00 target price on the real estate investment trust’s stock.

Several other research firms also recently weighed in on GGP. BMO Capital Markets set a $22.00 price target on GGP and gave the company a hold rating in a research note on Tuesday, October 31st. Boenning Scattergood set a $35.00 price target on GGP and gave the company a buy rating in a research note on Wednesday, November 1st. Stifel Nicolaus reiterated a buy rating and set a $24.00 price target on shares of GGP in a research note on Wednesday, November 1st. SunTrust Banks set a $26.00 price target on GGP and gave the company a buy rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research downgraded GGP from a hold rating to a sell rating in a research note on Tuesday, January 9th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $25.00.

GGP (GGP) opened at $21.76 on Monday. GGP has a one year low of $18.83 and a one year high of $25.69. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.35 and a current ratio of 1.00. The firm has a market capitalization of $21,525.94, a price-to-earnings ratio of 31.54, a P/E/G ratio of 2.45 and a beta of 0.84.

GGP (NYSE:GGP) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. GGP had a return on equity of 7.87% and a net margin of 28.24%. The firm had revenue of $627.40 million for the quarter, compared to the consensus estimate of $646.14 million. During the same period in the previous year, the business earned $0.43 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts predict that GGP will post 1.59 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.04%. GGP’s payout ratio is 127.54%.

Several institutional investors and hedge funds have recently modified their holdings of GGP. Bbva Compass Bancshares Inc. purchased a new stake in shares of GGP in the fourth quarter worth about $200,000. Guardian Capital Advisors LP acquired a new position in GGP in the 4th quarter worth about $207,000. DLD Asset Management LP acquired a new position in GGP in the 4th quarter worth about $211,000. Signaturefd LLC acquired a new position in GGP in the 4th quarter worth about $211,000. Finally, IBM Retirement Fund acquired a new position in GGP in the 4th quarter worth about $214,000. Hedge funds and other institutional investors own 95.31% of the company’s stock.

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About GGP

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.

Analyst Recommendations for GGP (NYSE:GGP)

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