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.
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.
TRADEMARK VIOLATION NOTICE: “GGP’s (GGP) Buy Rating Reiterated at Royal Bank of Canada” was first reported by Week Herald and is the sole property of of Week Herald. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://weekherald.com/2018/02/15/ggps-ggp-buy-rating-reiterated-at-royal-bank-of-canada.html.
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.
Receive News & Ratings for GGP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GGP and related companies with MarketBeat.com's FREE daily email newsletter.