Traders Sell GGP (GGP) on Strength (GGP)

Investors sold shares of GGP Inc (NYSE:GGP) on strength during trading hours on Tuesday. $9.42 million flowed into the stock on the tick-up and $39.64 million flowed out of the stock on the tick-down, for a money net flow of $30.22 million out of the stock. Of all companies tracked, GGP had the 18th highest net out-flow for the day. GGP traded up $0.08 for the day and closed at $23.48

Several analysts recently weighed in on GGP shares. JPMorgan Chase & Co. upgraded shares of GGP from a “neutral” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research report on Tuesday, September 26th. Boenning Scattergood restated a “buy” rating and set a $34.50 price target on shares of GGP in a research report on Tuesday, November 21st. SunTrust Banks set a $26.00 price target on shares of GGP and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BMO Capital Markets initiated coverage on shares of GGP in a research report on Monday, September 11th. They set a “market perform” rating and a $22.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $24.00 price target on shares of GGP in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. GGP has a consensus rating of “Hold” and a consensus price target of $25.46.

The firm has a market cap of $22,386.98, a P/E ratio of 32.61, a PEG ratio of 2.55 and a beta of 0.85. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.68.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.75%. GGP’s dividend payout ratio is currently 122.22%.

Several institutional investors have recently added to or reduced their stakes in the company. Nationwide Fund Advisors grew its position in GGP by 117.8% during the third quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after purchasing an additional 224,759 shares in the last quarter. Toronto Dominion Bank lifted its stake in GGP by 25.6% in the second quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after acquiring an additional 40,266 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in GGP in the second quarter valued at approximately $24,573,000. Tredje AP fonden lifted its stake in GGP by 13.3% in the third quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after acquiring an additional 7,007 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in GGP 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 valued at $71,904,000 after acquiring an additional 216,668 shares during the last quarter. 95.98% of the stock is currently owned by institutional investors and hedge funds.

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GGP Company Profile

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.

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