General Growth Properties, Inc. (GGP) Stake Lifted by Toronto Dominion Bank
Toronto Dominion Bank lifted its holdings in General Growth Properties, Inc. (NYSE:GGP) by 25.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,789 shares of the real estate investment trust’s stock after acquiring an additional 40,266 shares during the quarter. Toronto Dominion Bank’s holdings in General Growth Properties were worth $4,659,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of General Growth Properties in the 1st quarter worth approximately $195,000. Macquarie Group Ltd. boosted its holdings in shares of General Growth Properties by 14.2% in the 1st quarter. Macquarie Group Ltd. now owns 1,638,557 shares of the real estate investment trust’s stock worth $37,982,000 after acquiring an additional 203,918 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of General Growth Properties in the 1st quarter worth approximately $797,000. Gluskin Sheff & Assoc Inc. acquired a new position in General Growth Properties during the 2nd quarter worth $24,573,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in General Growth Properties by 6.8% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 108,834 shares of the real estate investment trust’s stock worth $2,523,000 after buying an additional 6,946 shares in the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.
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Shares of General Growth Properties, Inc. (NYSE:GGP) opened at 21.17 on Friday. The firm’s 50 day moving average is $21.20 and its 200 day moving average is $22.33. General Growth Properties, Inc. has a 12 month low of $20.31 and a 12 month high of $27.10. The company has a market cap of $18.65 billion, a PE ratio of 17.76 and a beta of 0.77.
General Growth Properties (NYSE:GGP) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.22). The business had revenue of $555.80 million for the quarter, compared to analyst estimates of $576.75 million. General Growth Properties had a return on equity of 13.57% and a net margin of 50.01%. During the same quarter last year, the firm posted $0.35 EPS. On average, equities analysts predict that General Growth Properties, Inc. will post $0.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be issued a dividend of $0.22 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.16%. General Growth Properties’s dividend payout ratio (DPR) is presently 73.95%.
Several research analysts have issued reports on the company. J P Morgan Chase & Co raised General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price objective on the stock in a report on Tuesday, September 26th. BMO Capital Markets assumed coverage on General Growth Properties in a report on Monday, September 11th. They set a “market perform” rating and a $22.00 price objective on the stock. BidaskClub downgraded General Growth Properties from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Royal Bank Of Canada reduced their price objective on General Growth Properties from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. Finally, Citigroup Inc. reduced their price objective on General Growth Properties from $30.00 to $27.50 and set a “buy” rating on the stock in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. General Growth Properties has an average rating of “Hold” and a consensus price target of $24.82.
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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