Why Has Boenning & Scattergood Given General Growth Properties Inc (NYSE:GGP) a $32.00 Price Target
Boenning & Scattergood revealed to investors in a recent report that it commenced coverage coverage on General Growth Properties Inc (NYSE:GGP) stock, with “Outperform” rating and a $32.00 PT.
From a total of 17 analysts covering General Growth Properties (NYSE:GGP) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 82% of the ratings are positive. The highest target price is $40 while the lowest target price is $27. The mean of all analyst targets is $32.71 with a 28.93% above today’s ($26.37) stock price. General Growth Properties was the topic of 13 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Evercore downgraded shares on November 16 to “Hold” rating. Evercore maintained shares with “Buy” rating and $32 target share price in a report from a September 8. Zacks downgraded GGP stock in a recent report from August 28 to “Hold” rating. Deutsche Bank maintained the rating on August 6. Deutsche Bank has a “Buy” rating and a $34 price target on shares. Finally, S&P Research maintained the stock with “Buy” rating in a report issued on an August 12.
The stock increased 4.11% or $1.04 on December 4, striking $26.37. Approximately shares of stock traded hands. General Growth Properties Inc (NYSE:GGP) has declined 4.14% since May 4, 2015 and is downtrending. It has underperformed by 3.07% the S&P500.
General Growth Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $23.27 billion. The Firm is engaged in owning and operating retail properties to communities, retailers, employees, clients and shareholders. It has 18.26 P/E ratio. As of December 31, 2014, the Company owned, either entirely or with joint venture partners, 128 retail properties.
According to Zacks Investment Research, “General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. It has ownership interests in, and management responsibilities for, a portfolio of regional shopping malls in numerous states. (Company Press Release)” Get a free copy of the Zacks research report on General Growth Properties Inc (GGP).