Bluestein R H & Co. Buys Shares of 20,000 GGP Inc (GGP)
Bluestein R H & Co. bought a new position in GGP Inc (NYSE:GGP) in the 4th quarter, HoldingsChannel reports. The fund bought 20,000 shares of the real estate investment trust’s stock, valued at approximately $468,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nationwide Fund Advisors grew its position in GGP by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after purchasing an additional 224,759 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of GGP by 2.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,572 shares of the real estate investment trust’s stock valued at $4,060,000 after acquiring an additional 3,623 shares in the last quarter. Strs Ohio boosted its holdings in shares of GGP by 3.1% in the fourth quarter. Strs Ohio now owns 841,434 shares of the real estate investment trust’s stock valued at $19,681,000 after acquiring an additional 25,664 shares in the last quarter. Havens Advisors LLC bought a new position in shares of GGP in the fourth quarter valued at approximately $5,263,000. Finally, Sentry Investment Management LLC bought a new position in shares of GGP in the fourth quarter valued at approximately $1,055,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.
GGP has been the subject of several recent analyst reports. ValuEngine cut shares of GGP from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Boenning Scattergood reiterated a “buy” rating and issued a $34.50 price objective on shares of GGP in a report on Tuesday, November 21st. Sandler O’Neill upgraded shares of GGP from a “sell” rating to a “hold” rating and set a $22.00 price objective for the company in a report on Monday, February 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $24.00 price objective on shares of GGP in a report on Monday, February 12th. Finally, Mizuho reiterated a “hold” rating and issued a $22.00 price objective on shares of GGP in a report on Friday, February 16th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. GGP has an average rating of “Hold” and a consensus price target of $24.79.
GGP (NYSE:GGP) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. GGP had a net margin of 28.24% and a return on equity of 7.87%. The business had revenue of $627.40 million during the quarter, compared to analyst estimates of $646.14 million. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s quarterly revenue was up 2.8% on a year-over-year basis. equities analysts predict that GGP Inc will post 1.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 4.18%. The ex-dividend date is Thursday, April 12th. GGP’s dividend payout ratio is presently 127.54%.
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GGP 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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