GGP Sees Unusually Large Options Volume (GGP)

GGP Inc. (NYSE:GGP) saw unusually large options trading activity on Thursday. Traders acquired 10,050 put options on the company. This represents an increase of approximately 1,721% compared to the average volume of 552 put options.

NYSE:GGP opened at $19.90 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $19,446.59, a price-to-earnings ratio of 12.68 and a beta of 0.90. GGP has a 52 week low of $18.83 and a 52 week high of $24.37.

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GGP (NYSE:GGP) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. The firm had revenue of $627.40 million during the quarter, compared to analyst estimates of $646.14 million. GGP had a net margin of 28.24% and a return on equity of 7.87%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.43 EPS. equities analysts forecast that GGP will post 1.57 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 13th will be paid a $0.22 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.88 annualized dividend and a yield of 4.42%. GGP’s dividend payout ratio (DPR) is 56.05%.

A number of large investors have recently bought and sold shares of GGP. Nisa Investment Advisors LLC increased its stake in GGP by 34.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 85,600 shares of the real estate investment trust’s stock valued at $2,002,000 after buying an additional 22,000 shares during the last quarter. Bank of Montreal Can increased its stake in GGP by 17.5% in the 4th quarter. Bank of Montreal Can now owns 298,253 shares of the real estate investment trust’s stock valued at $6,976,000 after buying an additional 44,385 shares during the last quarter. National Pension Service increased its stake in GGP by 15.7% in the 4th quarter. National Pension Service now owns 709,450 shares of the real estate investment trust’s stock valued at $16,594,000 after buying an additional 96,057 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in GGP by 8.6% in 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 buying an additional 475,079 shares during the last quarter. Finally, Havens Advisors LLC purchased a new stake in GGP in the 4th quarter valued at about $5,263,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

A number of research firms recently weighed in on GGP. Zacks Investment Research upgraded shares of GGP from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, April 11th. Sandler O’Neill set a $24.00 target price on shares of GGP and gave the stock a “hold” rating in a report on Tuesday, March 27th. BMO Capital Markets lowered their target price on shares of GGP from $24.00 to $23.50 and set a “hold” rating on the stock in a report on Tuesday, March 27th. Boenning Scattergood restated a “buy” rating and issued a $35.00 target price on shares of GGP in a report on Tuesday, March 27th. Finally, JPMorgan Chase lowered shares of GGP from an “overweight” rating to a “neutral” rating in a report on Tuesday, March 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. GGP presently has an average rating of “Hold” and an average target price of $24.92.

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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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