GGP Inc (GGP) Shares Bought by Kissinger Financial Services LLC
Kissinger Financial Services LLC increased its position in shares of GGP Inc (NYSE:GGP) by 66.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,367 shares of the real estate investment trust’s stock after buying an additional 42,170 shares during the period. GGP comprises about 2.5% of Kissinger Financial Services LLC’s holdings, making the stock its 13th largest position. Kissinger Financial Services LLC’s holdings in GGP were worth $2,443,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in GGP. Russell Investments Group Ltd. bought a new stake in GGP during the fourth quarter worth about $64,065,000. Long Pond Capital LP acquired a new position in shares of GGP during the third quarter worth $53,130,000. RidgeWorth Capital Management LLC acquired a new position in shares of GGP during the fourth quarter worth $37,314,000. FIL Ltd raised its position in shares of GGP by 121.0% in the fourth quarter. FIL Ltd now owns 1,732,030 shares of the real estate investment trust’s stock worth $43,266,000 after buying an additional 948,134 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of GGP by 71.7% in the fourth quarter. Guggenheim Capital LLC now owns 1,853,923 shares of the real estate investment trust’s stock worth $46,311,000 after buying an additional 774,222 shares in the last quarter. Institutional investors own 91.15% of the company’s stock.
GGP Inc (NYSE:GGP) traded up 0.107% during trading on Tuesday, hitting $23.465. The stock had a trading volume of 1,562,341 shares. The company has a 50-day moving average of $23.44 and a 200 day moving average of $24.91. The firm has a market cap of $20.73 billion, a P/E ratio of 17.511 and a beta of 0.81. GGP Inc has a 52-week low of $22.34 and a 52-week high of $32.10.
GGP (NYSE:GGP) last released its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. The firm had revenue of $610.30 million for the quarter, compared to the consensus estimate of $602.50 million. GGP had a return on equity of 15.52% and a net margin of 54.91%. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. On average, equities research analysts predict that GGP Inc will post $0.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 13th will be given a dividend of $0.22 per share. The ex-dividend date is Tuesday, April 11th. This represents a $0.88 annualized dividend and a yield of 3.75%. GGP’s dividend payout ratio (DPR) is presently 66.17%.
A number of equities analysts have weighed in on GGP shares. Deutsche Bank AG restated a “hold” rating and issued a $27.00 target price (down from $36.00) on shares of GGP in a research note on Monday, January 9th. Zacks Investment Research upgraded GGP from a “sell” rating to a “hold” rating and set a $28.00 target price on the stock in a research note on Monday, January 9th. Barclays PLC decreased their target price on GGP from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Mizuho restated a “buy” rating on shares of GGP in a research note on Friday, December 23rd. Finally, BMO Capital Markets restated a “buy” rating and issued a $31.00 target price on shares of GGP in a research note on Thursday, January 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. GGP currently has an average rating of “Buy” and an average price target of $31.73.
In related news, CFO Michael B. Berman sold 150,000 shares of GGP stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $25.00, for a total transaction of $3,750,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 40.70% of the stock is currently owned by insiders.
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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