Traders Purchase Large Volume of GGP Put Options (NYSE:GGP)

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.

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About GGP

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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