Barclays Maintains General Growth Properties Inc to Equal-weight with Price Target $32.00

Brokerage firm Barclays Maintains its rating on General Growth Properties Inc(NYSE:GGP). In a research note issued to the investors, the brokerage major Raises the price-target to $32.00 per share. The shares have been rated Equal-weight. The rating by Barclays was issued on Aug 18, 2016.

In a different note, On Aug 17, 2016, Deutsche Bank said it Maintains its rating on General Growth Properties Inc. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 8, 2016, Citigroup said it Maintains its rating on General Growth Properties Inc. In the research note, the firm Raises the price-target to $34.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 19, 2016, Barclays said it Maintains its rating on General Growth Properties Inc. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Equalweight’ by the firm.

General Growth Properties Inc (GGP) made into the market gainers list on Mondays trading session with the shares advancing 1.06% or 0.31 points. Due to strong positive momentum, the stock ended at $29.43, which is also near the day’s high of $29.54. The stock began the session at $29.15 and the volume stood at 24,36,435 shares. The 52-week high of the shares is $32.1 and the 52 week low is $24.22. The company has a current market capitalization of $26,038 M and it has 88,47,37,670 shares in outstanding.

General Growth Properties Inc has also declared a cash dividend of $0.2000 on Aug 1, 2016. The shares will quote ex-dividend on Oct 12, 2016 and the record date has been fixed on Oct 14, 2016. The dividend payable date has been fixed on Oct 31, 2016.

General Growth Properties Inc(GGP) last announced its earnings results on Aug 1, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $574.59M. Analysts had an estimated revenue of $580.42M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On Aug 8, 2016, John K Haley (director) sold 3,400 shares at $30.96 per share price.Also, On Aug 8, 2016, Tara Marszewski (SVP, Chief Accounting Officer) sold 10,419 shares at $31.01 per share price.On Jun 29, 2016, Marvin J Levine (EVP, Chief Legal Officer) sold 15,000 shares at $29.70 per share price, according to the Form-4 filing with the securities and exchange commission.

General Growth Properties Inc. (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and operating retail properties to communities retailers employees consumers and shareholders. As of December 31 2014 the Company owned either entirely or with joint venture partners 128 retail properties. The Company’s business is conducted through GGP Operating Partnership LP (GGPOP) GGP Nimbus LP (GGPN) and GGP Limited Partnership (GGPLP or operating partnership) subsidiaries of GGP. The Operating Partnerships own an interest in the properties of GGP. As of December 31 2014 GGP held approximately a 99% common equity ownership of the Operating Partnerships. In addition the Operating Partnerships conduct their operations through General Growth Management Inc. (GGMI) General Growth Services Inc. (GGSI) and GGPLP REIT Services LLC (GGPRS).

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