Traders Sell Shares of GGP (GGP) on Strength (GGP)

Investors sold shares of GGP Inc (NYSE:GGP) on strength during trading on Tuesday. $9.50 million flowed into the stock on the tick-up and $34.10 million flowed out of the stock on the tick-down, for a money net flow of $24.60 million out of the stock. Of all equities tracked, GGP had the 33rd highest net out-flow for the day. GGP traded up $0.04 for the day and closed at $20.38

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of GGP from $24.00 to $23.50 and set a “hold” rating on the stock in a research report on Tuesday, March 27th. Sandler O’Neill set a $22.00 price objective on shares of GGP and gave the company a “sell” rating in a report on Thursday, February 8th. Boenning Scattergood set a $35.00 price objective on shares of GGP and gave the company a “buy” rating in a report on Thursday, February 8th. ValuEngine lowered shares of GGP from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of GGP from a “sell” rating to a “hold” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $24.92.

The company has a market cap of $19.53 billion, a price-to-earnings ratio of 13.10 and a beta of 0.88. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.54.

GGP (NYSE:GGP) last announced its earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.02). The firm had revenue of $574.17 million during the quarter, compared to analyst estimates of $571.59 million. GGP had a net margin of 26.30% and a return on equity of 7.43%. GGP’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. research analysts forecast that GGP Inc will post 1.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, July 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $0.88 annualized dividend and a yield of 4.28%. GGP’s dividend payout ratio (DPR) is 56.05%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allianz Asset Management GmbH boosted its stake in GGP by 17.0% in the first quarter. Allianz Asset Management GmbH now owns 2,231,054 shares of the real estate investment trust’s stock valued at $45,648,000 after acquiring an additional 323,811 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in shares of GGP by 70.0% during the first quarter. Polar Asset Management Partners Inc. now owns 85,000 shares of the real estate investment trust’s stock worth $1,739,000 after buying an additional 35,000 shares during the period. Principal Financial Group Inc. lifted its stake in shares of GGP by 0.6% during the first quarter. Principal Financial Group Inc. now owns 3,420,679 shares of the real estate investment trust’s stock worth $69,987,000 after buying an additional 20,712 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of GGP by 2.2% during the first quarter. Xact Kapitalforvaltning AB now owns 118,315 shares of the real estate investment trust’s stock worth $2,421,000 after buying an additional 2,576 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of GGP by 5.4% during the first quarter. Legal & General Group Plc now owns 5,554,708 shares of the real estate investment trust’s stock worth $113,662,000 after buying an additional 286,851 shares during the period. Institutional investors own 91.11% of the company’s stock.

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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