GGP Inc (NYSE:GGP) was the recipient of a large decline in short interest in November. As of November 30th, there was short interest totalling 31,657,668 shares, a decline of 39.7% from the November 15th total of 52,492,806 shares. Currently, 5.1% of the company’s stock are short sold. Based on an average trading volume of 7,782,095 shares, the short-interest ratio is presently 4.1 days.
GGP has been the subject of several recent research reports. JPMorgan Chase & Co. raised GGP from a “neutral” rating to an “overweight” rating and set a $25.00 price target for the company in a research report on Tuesday, September 26th. BMO Capital Markets set a $22.00 target price on GGP and gave the company a “hold” rating in a research report on Tuesday, October 31st. Boenning Scattergood set a $35.00 target price on GGP and gave the company a “buy” rating in a research report on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and issued a $24.00 price objective on shares of GGP in a report on Wednesday, November 1st. Finally, SunTrust Banks set a $26.00 price objective on GGP and gave the company a “buy” rating in a report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.33.
A number of hedge funds have recently modified their holdings of GGP. Tredje AP fonden boosted its position in GGP by 13.3% during the third quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock worth $1,238,000 after purchasing an additional 7,007 shares in the last quarter. Toronto Dominion Bank boosted its position in GGP by 25.6% during the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 40,266 shares in the last quarter. Nationwide Fund Advisors boosted its position in GGP by 117.8% during the third 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 in the last quarter. Gluskin Sheff & Assoc Inc. purchased a new position in GGP during the second quarter worth approximately $24,573,000. Finally, UBS Asset Management Americas Inc. boosted its position in GGP by 7.6% during the second quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after purchasing an additional 216,668 shares in the last quarter. Institutional investors own 95.98% of the company’s stock.
Shares of GGP (NYSE:GGP) traded down $0.09 on Thursday, hitting $23.23. The stock had a trading volume of 3,762,307 shares, compared to its average volume of 4,234,363. The stock has a market capitalization of $22,060.00, a P/E ratio of 32.72, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.68. GGP has a 1 year low of $18.83 and a 1 year high of $25.91.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Friday, December 15th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.79%. GGP’s dividend payout ratio is currently 123.94%.
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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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