Bank of New York Mellon Corp trimmed its stake in shares of GGP Inc (NYSE:GGP) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,098,167 shares of the real estate investment trust’s stock after selling 36,160 shares during the quarter. Bank of New York Mellon Corp’s holdings in GGP were worth $124,586,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGP. Piedmont Investment Advisors LLC acquired a new position in shares of GGP during the 2nd quarter worth about $151,000. HRT Financial LLC acquired a new position in shares of GGP during the 2nd quarter worth about $228,000. Creative Planning acquired a new position in shares of GGP during the 2nd quarter worth about $231,000. Stifel Financial Corp acquired a new position in shares of GGP during the 1st quarter worth about $258,000. Finally, Oppenheimer & Co. Inc. boosted its position in shares of GGP by 30.2% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 12,985 shares of the real estate investment trust’s stock worth $265,000 after acquiring an additional 3,015 shares in the last quarter. 86.21% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on GGP. ValuEngine raised GGP from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Zacks Investment Research cut GGP from a “hold” rating to a “sell” rating in a research report on Friday, July 20th. Stifel Nicolaus reaffirmed a “buy” rating and set a $27.00 price objective on shares of GGP in a research report on Tuesday, August 28th. BMO Capital Markets set a $22.00 price objective on GGP and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Finally, SunTrust Banks reaffirmed a “hold” rating on shares of GGP in a research report on Friday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $25.11.
Shares of NYSE GGP opened at $22.06 on Wednesday. GGP Inc has a 52-week low of $18.83 and a 52-week high of $24.23.
GGP Company Profile
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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