AMP Capital Investors Ltd lifted its holdings in shares of GGP Inc. (NYSE:GGP) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 870,294 shares of the real estate investment trust’s stock after acquiring an additional 75,211 shares during the quarter. AMP Capital Investors Ltd owned 0.09% of GGP worth $20,355,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. BlueCrest Capital Management Ltd purchased a new stake in shares of GGP during the fourth quarter valued at approximately $603,000. Thrivent Financial For Lutherans purchased a new stake in GGP in the fourth quarter worth $61,041,000. Chilton Capital Management LLC increased its position in GGP by 5.4% in the fourth quarter. Chilton Capital Management LLC now owns 1,313,887 shares of the real estate investment trust’s stock worth $30,732,000 after buying an additional 66,833 shares during the last quarter. Scotia Capital Inc. purchased a new stake in GGP in the fourth quarter worth $2,658,000. Finally, Signaturefd LLC purchased a new stake in GGP in the fourth quarter worth $211,000. 95.82% of the stock is owned by institutional investors.
GGP has been the subject of a number of recent research reports. Boenning Scattergood set a $35.00 target price on GGP and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research downgraded GGP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Barclays decreased their target price on GGP from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 30th. ValuEngine downgraded GGP from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Sandler O’Neill downgraded GGP from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.09.
Shares of GGP stock traded down $0.05 during trading hours on Monday, reaching $20.41. The company had a trading volume of 6,672,339 shares, compared to its average volume of 5,238,832. GGP Inc. has a one year low of $18.83 and a one year high of $24.37. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $19,580.58, a P/E ratio of 13.00, a PEG ratio of 1.86 and a beta of 0.90.
GGP (NYSE:GGP) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.01. GGP had a return on equity of 7.87% and a net margin of 28.24%. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $646.14 million. During the same period last year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts expect that GGP Inc. will post 1.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Thursday, April 12th. GGP’s payout ratio is currently 56.05%.
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GGP Inc is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.
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