GGP Inc (GGP) Expected to Announce Earnings of $0.47 Per Share

Wall Street analysts predict that GGP Inc (NYSE:GGP) will announce earnings per share of $0.47 for the current quarter, Zacks reports. Two analysts have provided estimates for GGP’s earnings, with the highest EPS estimate coming in at $0.48 and the lowest estimate coming in at $0.46. GGP posted earnings of $0.24 per share during the same quarter last year, which would indicate a positive year over year growth rate of 95.8%. The company is expected to announce its next earnings results on Monday, January 29th.

On average, analysts expect that GGP will report full year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $1.56 to $1.60. For the next financial year, analysts forecast that the firm will report earnings of $1.60 per share, with EPS estimates ranging from $1.56 to $1.62. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover GGP.

Several brokerages have recently issued reports on GGP. Boenning Scattergood set a $35.00 target price on shares of GGP and gave the company a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets initiated coverage on shares of GGP in a research note on Monday, September 11th. They set a “market perform” rating and a $22.00 price target for the company. JPMorgan Chase & Co. upgraded shares of GGP from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a research note on Tuesday, September 26th. 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. Finally, SunTrust Banks set a $26.00 price target on shares of GGP and gave the stock a “buy” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. GGP currently has a consensus rating of “Hold” and an average target price of $25.46.

Large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its stake in shares of GGP by 7.6% in the 2nd 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 acquiring an additional 216,668 shares during the period. Gluskin Sheff & Assoc Inc. acquired a new stake in shares of GGP in the 2nd quarter worth $24,573,000. Nationwide Fund Advisors lifted its stake in shares of GGP by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after acquiring an additional 224,759 shares during the period. Toronto Dominion Bank lifted its stake in shares of GGP by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 40,266 shares during the period. Finally, Tredje AP fonden lifted its stake in shares of GGP by 13.3% in the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock worth $1,238,000 after acquiring an additional 7,007 shares during the period. Hedge funds and other institutional investors own 95.98% of the company’s stock.

GGP (NYSE GGP) opened at $23.39 on Monday. GGP has a twelve month low of $18.83 and a twelve month high of $26.20. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $22,377.40, a price-to-earnings ratio of 32.49, a PEG ratio of 2.55 and a beta of 0.85.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Thursday, December 14th. GGP’s dividend payout ratio is currently 122.22%.

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GGP 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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