Investors Sell GGP (GGP) on Strength (GGP)

Traders sold shares of GGP Inc (NYSE:GGP) on strength during trading hours on Tuesday. $9.50 million flowed into the stock on the tick-up and $34.10 million flowed out of the stock on the tick-down, for a money net flow of $24.60 million out of the stock. Of all equities tracked, GGP had the 33rd highest net out-flow for the day. GGP traded up $0.04 for the day and closed at $20.38

GGP has been the subject of several analyst reports. Barclays reduced their price objective on GGP from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. ValuEngine lowered GGP from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Sandler O’Neill lowered GGP from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Boenning Scattergood set a $35.00 price objective on GGP and gave the stock a “buy” rating in a research note on Thursday, February 8th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $24.00 price objective on shares of GGP in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. GGP presently has an average rating of “Hold” and a consensus target price of $24.92.

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $19.53 billion, a PE ratio of 13.10 and a beta of 0.88.

GGP (NYSE:GGP) last issued its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share (EPS) 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 business had revenue of $574.17 million during the quarter, compared to analysts’ expectations of $571.59 million. During the same quarter in the previous year, the company posted $0.36 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. analysts expect that GGP Inc will post 1.56 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, July 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, July 12th. This represents a $0.88 dividend on an annualized basis and a yield of 4.28%. GGP’s payout ratio is presently 56.05%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in GGP by 0.8% in the 4th quarter. BlackRock Inc. now owns 59,827,593 shares of the real estate investment trust’s stock worth $1,399,367,000 after buying an additional 450,895 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $304,882,000 after purchasing an additional 673,647 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of 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 valued at $258,469,000 after purchasing an additional 4,162,699 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of 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 valued at $218,335,000 after purchasing an additional 273,787 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 valued at $181,012,000 after purchasing an additional 337,592 shares during the last quarter. Institutional investors and hedge funds own 91.11% of the company’s stock.

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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