Wall Street brokerages expect GGP Inc (NYSE:GGP) to report earnings per share (EPS) of $0.36 for the current quarter, according to Zacks. Three analysts have issued estimates for GGP’s earnings, with estimates ranging from $0.36 to $0.37. GGP reported earnings per share of $0.40 during the same quarter last year, which suggests a negative year-over-year growth rate of 10%. The company is expected to announce its next earnings report on Wednesday, August 1st.
On average, analysts expect that GGP will report full year earnings of $1.56 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $1.59. For the next financial year, analysts expect that the company will post earnings of $1.62 per share, with EPS estimates ranging from $1.57 to $1.66. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for GGP.
GGP (NYSE:GGP) last announced its earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.02). GGP had a return on equity of 7.43% and a net margin of 26.30%. The firm had revenue of $574.17 million for the quarter, compared to the consensus estimate of $571.59 million. During the same quarter last year, the business posted $0.36 EPS. GGP’s revenue for the quarter was up 1.4% on a year-over-year basis.
A number of research firms have commented on GGP. BMO Capital Markets lowered their price objective on GGP from $24.00 to $23.50 and set a “hold” rating on the stock in a research note on Tuesday, March 27th. Zacks Investment Research upgraded GGP from a “sell” rating to a “hold” rating in a research note on Thursday, June 7th. ValuEngine lowered GGP from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Sandler O’Neill set a $24.00 price objective on GGP and gave the stock a “hold” rating in a research note on Tuesday, March 27th. Finally, Boenning Scattergood restated a “buy” rating and set a $35.00 price objective on shares of GGP in a research note on Tuesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $25.18.
GGP stock opened at $20.65 on Wednesday. GGP has a one year low of $18.83 and a one year high of $24.37. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $19.89 billion, a price-to-earnings ratio of 13.15 and a beta of 0.91.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, July 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Thursday, July 12th. GGP’s dividend payout ratio is presently 56.05%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of GGP by 0.8% during the 4th quarter. BlackRock Inc. now owns 59,827,593 shares of the real estate investment trust’s stock valued at $1,399,367,000 after acquiring an additional 450,895 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in GGP by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 13,034,573 shares of the real estate investment trust’s stock worth $304,882,000 after buying an additional 673,647 shares during the period. Daiwa Securities Group Inc. lifted its holdings in GGP by 49.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 12,632,903 shares of the real estate investment trust’s stock worth $258,469,000 after buying an additional 4,162,699 shares during the period. Northern Trust Corp lifted its holdings in GGP by 2.6% during the 1st quarter. Northern Trust Corp now owns 10,671,287 shares of the real estate investment trust’s stock worth $218,335,000 after buying an additional 273,787 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in GGP by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 7,753,010 shares of the real estate investment trust’s stock worth $181,012,000 after buying an additional 337,592 shares during the period. 91.05% of the stock is currently owned by institutional investors.
GGP Company Profile
GGP Inc is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.
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