Sei Investments Co. reduced its stake in shares of GGP Inc (NYSE:GGP) by 40.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 832,051 shares of the real estate investment trust’s stock after selling 567,739 shares during the period. Sei Investments Co.’s holdings in GGP were worth $19,461,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. IBM Retirement Fund acquired a new stake in shares of GGP during the fourth quarter worth $214,000. FNY Partners Fund LP lifted its stake in shares of GGP by 725.0% during the fourth quarter. FNY Partners Fund LP now owns 16,500 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 14,500 shares during the period. US Bancorp DE raised its holdings in shares of GGP by 39.5% during the fourth quarter. US Bancorp DE now owns 21,313 shares of the real estate investment trust’s stock worth $498,000 after purchasing an additional 6,038 shares during the last quarter. Blue Sky Asset Management LLC purchased a new position in shares of GGP during the fourth quarter worth $503,000. Finally, Lourd Capital LLC purchased a new position in shares of GGP during the fourth quarter worth $508,000. Institutional investors and hedge funds own 93.31% of the company’s stock.
Several research analysts recently issued reports on the stock. Mizuho reissued a “hold” rating and set a $22.00 target price on shares of GGP in a report on Friday. Zacks Investment Research raised shares of GGP from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada reissued a “buy” rating and set a $24.00 target price on shares of GGP in a report on Monday, February 12th. Sandler O’Neill set a $22.00 target price on shares of GGP and gave the stock a “sell” rating in a report on Thursday, February 8th. Finally, Boenning Scattergood set a $35.00 target price on shares of GGP and gave the stock a “buy” rating in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $24.79.
GGP (NYSE:GGP) last announced its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.01. GGP had a net margin of 28.24% and a return on equity of 7.87%. The business had revenue of $627.40 million for the quarter, compared to analyst estimates of $646.14 million. During the same quarter last year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. sell-side analysts forecast that GGP Inc will post 1.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.88 annualized dividend and a dividend yield of 4.00%. GGP’s dividend payout ratio (DPR) is 127.54%.
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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