Traders Purchase High Volume of Call Options on General Growth Properties (GGP)

General Growth Properties, Inc. (NYSE:GGP) was the target of some unusual options trading activity on Thursday. Stock traders acquired 20,305 call options on the company. This represents an increase of 1,015% compared to the average daily volume of 1,821 call options.

A number of institutional investors and hedge funds have recently bought and sold shares of GGP. Oppenheimer Asset Management Inc. purchased a new position in General Growth Properties during the first quarter valued at $195,000. Perigon Wealth Management LLC purchased a new position in General Growth Properties during the first quarter valued at $197,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in General Growth Properties during the first quarter valued at $204,000. Two Sigma Securities LLC purchased a new position in General Growth Properties during the first quarter valued at $211,000. Finally, Keybank National Association OH purchased a new position in General Growth Properties during the first quarter valued at $216,000. 95.32% of the stock is owned by institutional investors.

A number of research firms recently weighed in on GGP. Zacks Investment Research upgraded shares of General Growth Properties from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Sandler O’Neill downgraded shares of General Growth Properties from a “buy” rating to a “hold” rating and cut their price target for the company from $31.00 to $24.00 in a report on Thursday, August 3rd. BidaskClub raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Royal Bank Of Canada reissued a “buy” rating and issued a $28.00 price target on shares of General Growth Properties in a report on Friday, August 4th. Finally, Stifel Nicolaus assumed coverage on shares of General Growth Properties in a report on Friday, July 14th. They issued a “buy” rating and a $27.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. General Growth Properties presently has an average rating of “Hold” and an average price target of $25.67.

Shares of General Growth Properties (NYSE:GGP) opened at 21.21 on Friday. General Growth Properties has a 12-month low of $20.31 and a 12-month high of $27.10. The company has a market capitalization of $18.69 billion, a P/E ratio of 17.79 and a beta of 0.77. The stock’s 50 day moving average is $21.02 and its 200-day moving average is $22.44.

General Growth Properties (NYSE:GGP) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.22). The company had revenue of $555.80 million for the quarter, compared to analysts’ expectations of $576.75 million. General Growth Properties had a net margin of 50.01% and a return on equity of 13.57%. During the same period in the previous year, the business posted $0.35 earnings per share. Analysts anticipate that General Growth Properties will post $0.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.88 annualized dividend and a yield of 4.15%. General Growth Properties’s payout ratio is 73.95%.

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General Growth Properties 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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