General Growth Properties, Inc. (GGP) to Issue Quarterly Dividend of $0.22 on October 31st

General Growth Properties, Inc. (NYSE:GGP) declared a quarterly dividend on Wednesday, August 2nd, Zacks reports. Stockholders of record on Friday, October 13th will be given a dividend of 0.22 per share by the real estate investment trust on Tuesday, October 31st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, October 12th.

General Growth Properties has raised its dividend payment by an average of 17.1% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. General Growth Properties has a payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Growth Properties to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 54.0%.

General Growth Properties (NYSE GGP) opened at 21.64 on Wednesday. The company’s 50-day moving average is $21.07 and its 200 day moving average is $22.41. General Growth Properties has a one year low of $20.31 and a one year high of $27.10. The company has a market capitalization of $19.06 billion, a P/E ratio of 18.15 and a beta of 0.77.

General Growth Properties (NYSE:GGP) last issued 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 Thomson Reuters’ consensus estimate of $0.35 by ($0.22). General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $576.75 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Analysts predict that General Growth Properties will post $0.56 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “General Growth Properties, Inc. (GGP) to Issue Quarterly Dividend of $0.22 on October 31st” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/11/general-growth-properties-inc-ggp-to-issue-quarterly-dividend-of-0-22-on-october-31st.html.

GGP has been the subject of several research reports. J P Morgan Chase & Co upgraded General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 26th. Zacks Investment Research downgraded General Growth Properties from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub downgraded General Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) downgraded General Growth Properties from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Tuesday, June 20th. Finally, Citigroup Inc. cut their price objective on General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. General Growth Properties presently has a consensus rating of “Hold” and an average price target of $25.67.

About General Growth Properties

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

General Growth Properties has raised its dividend payment by an average of 17.1% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. General Growth Properties has a payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Analysts expect General Growth Properties to earn $1.63 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 54.0%.

General Growth Properties (NYSE GGP) opened at 21.64 on Wednesday. The company’s 50-day moving average is $21.07 and its 200 day moving average is $22.41. General Growth Properties has a one year low of $20.31 and a one year high of $27.10. The company has a market capitalization of $19.06 billion, a P/E ratio of 18.15 and a beta of 0.77.

General Growth Properties (NYSE:GGP) last issued 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 Thomson Reuters’ consensus estimate of $0.35 by ($0.22). General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. The company had revenue of $555.80 million for the quarter, compared to analyst estimates of $576.75 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Analysts predict that General Growth Properties will post $0.56 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “General Growth Properties, Inc. (GGP) to Issue Quarterly Dividend of $0.22 on October 31st” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://ledgergazette.com/2017/10/11/general-growth-properties-inc-ggp-to-issue-quarterly-dividend-of-0-22-on-october-31st.html.

GGP has been the subject of several research reports. J P Morgan Chase & Co upgraded General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 26th. Zacks Investment Research downgraded General Growth Properties from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. BidaskClub downgraded General Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Goldman Sachs Group, Inc. (The) downgraded General Growth Properties from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $23.00 to $22.00 in a research report on Tuesday, June 20th. Finally, Citigroup Inc. cut their price objective on General Growth Properties from $30.00 to $27.50 and set a “buy” rating for the company in a research report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. General Growth Properties presently has a consensus rating of “Hold” and an average price target of $25.67.

About General Growth Properties

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.

Dividend History for General Growth Properties (NYSE:GGP)

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