Ladenburg Thalmann Financial Services Inc. cut its stake in shares of GGP Inc (NYSE:GGP) by 6.9% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,545 shares of the real estate investment trust’s stock after selling 560 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in GGP were worth $192,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Mason Street Advisors LLC bought a new stake in shares of GGP during the second quarter valued at approximately $2,341,000. Kentucky Retirement Systems bought a new stake in shares of GGP during the second quarter valued at approximately $1,478,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of GGP during the second quarter valued at approximately $702,000. Williams Jones & Associates LLC bought a new stake in shares of GGP during the second quarter valued at approximately $531,000. Finally, Creative Planning boosted its stake in shares of GGP by 7.6% in the third quarter. Creative Planning now owns 26,562 shares of the real estate investment trust’s stock valued at $733,000 after buying an additional 1,869 shares during the period. Hedge funds and other institutional investors own 91.15% of the company’s stock.
GGP Inc (NYSE:GGP) opened at 23.19 on Tuesday. GGP Inc has a 12 month low of $22.86 and a 12 month high of $32.10. The firm has a market cap of $20.49 billion, a PE ratio of 17.31 and a beta of 0.81. The firm’s 50-day moving average is $24.54 and its 200-day moving average is $25.75.
GGP (NYSE:GGP) last released its quarterly earnings results on Monday, January 30th. The real estate investment trust reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The business earned $610.30 million during the quarter, compared to analyst estimates of $602.50 million. GGP had a net margin of 54.91% and a return on equity of 15.52%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Equities analysts expect that GGP Inc will post $0.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.79%. GGP’s dividend payout ratio is currently 66.17%.
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Several analysts recently commented on GGP shares. Zacks Investment Research upgraded shares of GGP from a “sell” rating to a “hold” rating in a research note on Tuesday, November 22nd. Mizuho reiterated a “buy” rating on shares of GGP in a research note on Friday, December 23rd. Royal Bank of Canada reiterated a “buy” rating and issued a $33.00 price objective on shares of GGP in a research note on Tuesday, January 3rd. Deutsche Bank AG reiterated a “hold” rating and issued a $27.00 price objective (down previously from $36.00) on shares of GGP in a research note on Monday, January 9th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $31.00 price objective on shares of GGP in a research note on Thursday, January 12th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $31.75.
In other news, CFO Michael B. Berman sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $25.00, for a total transaction of $3,750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 40.70% of the stock is currently owned by corporate insiders.
GGP Company Profile
GGP, Inc, formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders.
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