Investors Buy GGP Inc. (GGP) on Weakness

Investors bought shares of GGP Inc. (NYSE:GGP) on weakness during trading hours on Friday. $45.63 million flowed into the stock on the tick-up and $20.89 million flowed out of the stock on the tick-down, for a money net flow of $24.74 million into the stock. Of all equities tracked, GGP had the 33rd highest net in-flow for the day. GGP traded down ($0.26) for the day and closed at $23.66

A number of equities analysts have commented on GGP shares. Boenning Scattergood reaffirmed a “buy” rating and issued a $34.50 price objective on shares of GGP in a report on Wednesday, November 8th. SunTrust Banks, Inc. set a $26.00 price objective on shares of GGP and gave the stock a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $24.00 price objective on shares of GGP in a report on Wednesday, November 1st. Citigroup Inc. decreased their price objective on shares of GGP from $30.00 to $27.50 and set a “buy” rating for the company in a report on Monday, August 14th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $28.00 price target on shares of GGP in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $25.46.

The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $22,381.82, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, December 14th. GGP’s dividend payout ratio is currently 122.22%.

Several hedge funds and other institutional investors have recently modified their holdings of GGP. Gluskin Sheff & Assoc Inc. bought a new stake in shares of GGP during the second quarter valued at about $24,573,000. Nationwide Fund Advisors raised its stake in shares of 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. UBS Asset Management Americas Inc. raised its stake in shares of GGP by 7.6% during 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 purchasing an additional 216,668 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of GGP by 25.6% during 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 purchasing an additional 40,266 shares in the last quarter. Finally, Tredje AP fonden raised its stake in shares of GGP by 13.3% during 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 purchasing an additional 7,007 shares in the last quarter. Institutional investors and hedge funds own 88.74% of the company’s stock.

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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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