Investors Sell Shares of GGP (GGP) on Strength (GGP)

Investors sold shares of GGP Inc (NYSE:GGP) on strength during trading on Tuesday. $9.42 million flowed into the stock on the tick-up and $39.64 million flowed out of the stock on the tick-down, for a money net flow of $30.22 million out of the stock. Of all equities tracked, GGP had the 0th highest net out-flow for the day. GGP traded up $0.08 for the day and closed at $23.48

Several brokerages have recently commented on GGP. JPMorgan Chase & Co. upgraded shares of GGP from a “neutral” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating and issued a $24.00 target price on shares of GGP in a research report on Wednesday, November 1st. BMO Capital Markets began coverage on shares of GGP in a research report on Monday, September 11th. They issued a “market perform” rating and a $22.00 target price for the company. SunTrust Banks set a $26.00 target price on shares of GGP and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Boenning Scattergood set a $35.00 price objective on shares of GGP and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.46.

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68. The stock has a market cap of $22,230.00, a PE ratio of 33.06, a PEG ratio of 2.55 and a beta of 0.86.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, December 14th. GGP’s dividend payout ratio (DPR) is currently 123.94%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tredje AP fonden increased its position in GGP by 13.3% in the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after acquiring an additional 7,007 shares during the period. Toronto Dominion Bank increased its position in GGP by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after acquiring an additional 40,266 shares during the period. UBS Asset Management Americas Inc. increased its position in 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 valued at $71,904,000 after acquiring an additional 216,668 shares during the period. Nationwide Fund Advisors increased its position in GGP by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after acquiring an additional 224,759 shares during the period. Finally, Gluskin Sheff & Assoc Inc. acquired a new position in GGP in the 2nd quarter valued at approximately $24,573,000. Hedge funds and other institutional investors own 95.98% of the company’s stock.

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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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