Two Sigma Securities LLC bought a new position in General Growth Properties, Inc. (NYSE:GGP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,103 shares of the real estate investment trust’s stock, valued at approximately $211,000.
Other large investors have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. raised its stake in General Growth Properties by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 503,500 shares of the real estate investment trust’s stock worth $11,672,000 after buying an additional 15,567 shares during the period. Pensionfund Sabic raised its stake in shares of General Growth Properties by 11.5% in the first quarter. Pensionfund Sabic now owns 29,000 shares of the real estate investment trust’s stock worth $672,000 after buying an additional 3,000 shares during the last quarter. Highbridge Capital Management LLC raised its stake in shares of General Growth Properties by 79.8% in the fourth quarter. Highbridge Capital Management LLC now owns 563,420 shares of the real estate investment trust’s stock worth $14,074,000 after buying an additional 250,062 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of General Growth Properties during the fourth quarter worth $472,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of General Growth Properties during the fourth quarter worth $1,058,000. Institutional investors own 94.43% of the company’s stock.
General Growth Properties, Inc. (NYSE:GGP) opened at 23.99 on Wednesday. General Growth Properties, Inc. has a 52-week low of $21.05 and a 52-week high of $32.10. The stock has a market capitalization of $21.22 billion, a P/E ratio of 19.19 and a beta of 0.81. The company has a 50 day moving average of $22.88 and a 200-day moving average of $24.00.
General Growth Properties (NYSE:GGP) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.25. General Growth Properties had a return on equity of 14.38% and a net margin of 52.21%. The firm had revenue of $566.33 million for the quarter, compared to analyst estimates of $561.66 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts anticipate that General Growth Properties, Inc. will post $0.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Thursday, July 13th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, July 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.67%. General Growth Properties’s payout ratio is currently 70.97%.
GGP has been the topic of a number of analyst reports. ValuEngine upgraded shares of General Growth Properties from a “hold” rating to a “buy” rating in a report on Thursday, May 11th. Barclays PLC reduced their price objective on shares of General Growth Properties from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, June 9th. Zacks Investment Research upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. BidaskClub upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Finally, Mizuho lowered shares of General Growth Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $30.00 to $24.50 in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.46.
General Growth Properties 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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