Dimensional Fund Advisors LP increased its stake in General Growth Properties, Inc. (NYSE:GGP) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,656,685 shares of the real estate investment trust’s stock after buying an additional 58,230 shares during the period. Dimensional Fund Advisors LP’s holdings in General Growth Properties were worth $191,260,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fusion Family Wealth LLC bought a new position in General Growth Properties during the fourth quarter valued at approximately $101,000. Advisor Group Inc. raised its position in General Growth Properties by 6.3% in the third quarter. Advisor Group Inc. now owns 6,636 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 392 shares in the last quarter. Bailard Inc. bought a new position in General Growth Properties during the third quarter valued at approximately $221,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in General Growth Properties during the third quarter valued at approximately $226,000. Finally, Global X Management Co. LLC raised its position in General Growth Properties by 40.9% in the third quarter. Global X Management Co. LLC now owns 8,785 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 2,549 shares in the last quarter. Institutional investors own 91.15% of the company’s stock.
Shares of General Growth Properties, Inc. (NYSE:GGP) traded down 0.83% during trading on Tuesday, reaching $25.09. 1,419,381 shares of the company were exchanged. General Growth Properties, Inc. has a 1-year low of $23.77 and a 1-year high of $32.10. The stock has a market capitalization of $22.20 billion, a P/E ratio of 18.72 and a beta of 0.81. The firm has a 50-day moving average price of $25.03 and a 200-day moving average price of $26.70.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, January 30th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The company earned $610.30 million during the quarter, compared to analysts’ expectations of $602.50 million. General Growth Properties had a net margin of 54.91% and a return on equity of 15.52%. The firm’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Equities research analysts predict that General Growth Properties, Inc. will post $0.59 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 13th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.48%. General Growth Properties’s dividend payout ratio is presently 66.17%.
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Several brokerages have issued reports on GGP. RBC Capital Markets restated a “buy” rating and set a $33.00 target price on shares of General Growth Properties in a research report on Tuesday, January 3rd. Mizuho restated a “buy” rating on shares of General Growth Properties in a research report on Friday, December 23rd. BMO Capital Markets restated a “buy” rating and set a $31.00 target price on shares of General Growth Properties in a research report on Thursday, January 12th. Barclays PLC dropped their target price on General Growth Properties from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, January 23rd. Finally, Zacks Investment Research lowered General Growth Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $31.75.
General Growth Properties Company Profile
GGP, Inc, formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.
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