Two Sigma Investments LP lifted its holdings in GGP Inc (NYSE:GGP) by 101.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,485,710 shares of the real estate investment trust’s stock after buying an additional 1,252,946 shares during the period. Two Sigma Investments LP’s holdings in GGP were worth $58,141,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of GGP. Bbva Compass Bancshares Inc. purchased a new position in shares of GGP in the fourth quarter worth about $200,000. Guardian Capital Advisors LP purchased a new position in GGP during the fourth quarter worth about $207,000. DLD Asset Management LP purchased a new position in GGP during the fourth quarter worth about $211,000. Signaturefd LLC purchased a new position in GGP during the fourth quarter worth about $211,000. Finally, IBM Retirement Fund purchased a new position in GGP during the fourth quarter worth about $214,000. 95.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on GGP. Zacks Investment Research downgraded shares of GGP from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. Boenning Scattergood set a $35.00 target price on shares of GGP and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Barclays reduced their target price on shares of GGP from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. Sandler O’Neill downgraded shares of GGP from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, ValuEngine downgraded shares of GGP from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $24.79.
GGP (NYSE:GGP) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $646.14 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. equities analysts forecast that GGP Inc will post 1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 13th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, April 12th. GGP’s dividend payout ratio is presently 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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