Gluskin Sheff & Assoc Inc. Reduces Position in General Growth Properties, Inc. (GGP)

Gluskin Sheff & Assoc Inc. decreased its holdings in General Growth Properties, Inc. (NYSE:GGP) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,012,543 shares of the real estate investment trust’s stock after selling 30,471 shares during the quarter. General Growth Properties accounts for about 2.2% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 22nd largest position. Gluskin Sheff & Assoc Inc. owned approximately 0.11% of General Growth Properties worth $21,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GGP. Nationwide Fund Advisors boosted its holdings in shares of General Growth Properties by 117.8% in the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after buying an additional 224,759 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of General Growth Properties by 7.6% in 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 buying an additional 216,668 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of General Growth Properties by 25.6% in the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after buying an additional 40,266 shares during the last quarter. HighTower Advisors LLC purchased a new position in General Growth Properties during the first quarter valued at approximately $797,000. Finally, Gotham Asset Management LLC purchased a new position in General Growth Properties during the first quarter valued at approximately $256,000. 95.33% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on GGP. SunTrust Banks, Inc. set a $26.00 price target on shares of General Growth Properties and gave the company a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $24.00 price target on shares of General Growth Properties in a report on Wednesday, November 1st. Boenning Scattergood set a $35.00 price target on shares of General Growth Properties and gave the company a “buy” rating in a report on Wednesday, November 1st. BMO Capital Markets set a $22.00 price target on shares of General Growth Properties and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co raised shares of General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price target on the stock in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.46.

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General Growth Properties, Inc. (NYSE:GGP) traded up $0.04 during trading on Monday, hitting $19.14. 4,097,632 shares of the stock traded hands, compared to its average volume of 5,819,475. General Growth Properties, Inc. has a 52-week low of $18.83 and a 52-week high of $27.10. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $18,068.16, a PE ratio of 12.24, a P/E/G ratio of 1.93 and a beta of 0.78.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.60%. The ex-dividend date is Thursday, December 14th. General Growth Properties’s dividend payout ratio is currently 122.22%.

About General Growth Properties

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.

Institutional Ownership by Quarter for General Growth Properties (NYSE:GGP)

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