GGP Inc. (NYSE:GGP) was the recipient of some unusual options trading on Wednesday. Traders acquired 3,057 put options on the stock. This is an increase of 2,731% compared to the average volume of 108 put options.
GGP stock traded down $0.24 during mid-day trading on Friday, hitting $20.25. The stock had a trading volume of 6,058,394 shares, compared to its average volume of 5,770,343. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.00 and a quick ratio of 1.00. GGP has a 1-year low of $18.83 and a 1-year high of $24.37. The firm has a market cap of $19,609.29, a P/E ratio of 12.90, a PEG ratio of 1.86 and a beta of 0.90.
GGP (NYSE:GGP) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $646.14 million. GGP had a return on equity of 7.87% and a net margin of 28.24%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.43 EPS. research analysts expect that GGP will post 1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date is Thursday, April 12th. GGP’s dividend payout ratio is 56.05%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of GGP by 0.8% during the 4th quarter. BlackRock Inc. now owns 59,827,593 shares of the real estate investment trust’s stock valued at $1,399,367,000 after acquiring an additional 450,895 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GGP by 5.4% during the 4th quarter. Bank of New York Mellon Corp now owns 13,034,573 shares of the real estate investment trust’s stock valued at $304,882,000 after acquiring an additional 673,647 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of GGP by 26.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,470,204 shares of the real estate investment trust’s stock valued at $198,118,000 after acquiring an additional 1,796,712 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of GGP by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 7,753,010 shares of the real estate investment trust’s stock valued at $181,012,000 after acquiring an additional 337,592 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of GGP by 8.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 5,995,123 shares of the real estate investment trust’s stock valued at $140,226,000 after acquiring an additional 475,079 shares during the last quarter. 95.82% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently weighed in on the company. Sandler O’Neill set a $24.00 price target on GGP and gave the company a “hold” rating in a research report on Tuesday, March 27th. BMO Capital Markets dropped their price target on GGP from $24.00 to $23.50 and set a “hold” rating on the stock in a research report on Tuesday, March 27th. Boenning Scattergood reissued a “buy” rating and set a $35.00 price target on shares of GGP in a research report on Tuesday, March 27th. JPMorgan Chase lowered GGP from an “overweight” rating to a “neutral” rating in a research report on Tuesday, March 27th. Finally, SunTrust Banks lowered GGP from a “buy” rating to a “hold” rating and set a $24.00 target price on the stock. in a research report on Monday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.09.
COPYRIGHT VIOLATION WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/04/07/ggp-sees-unusually-high-options-volume-nyseggp.html.
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.
Receive News & Ratings for GGP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GGP and related companies with MarketBeat.com's FREE daily email newsletter.