Price Action Don’t Lie: Can General Growth Properties Inc’s Tomorrow be Different? The Stock Just Broke Its 52-Week Low

Price Action Don't Lie: Can General Growth Properties Inc's Tomorrow be Different? The Stock Just Broke Its 52 Week Low

The stock of General Growth Properties Inc (NYSE:GGP) hit a new 52-week low and has $22.31 target or 9.00% below today’s $24.52 share price. The 9 months bearish chart indicates high risk for the $21.30B company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $22.31 price target is reached, the company will be worth $1.92B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 2.03M shares traded hands. General Growth Properties Inc (NYSE:GGP) has declined 17.80% since April 1, 2016 and is downtrending. It has underperformed by 19.01% the S&P500.

Analysts await General Growth Properties Inc (NYSE:GGP) to report earnings on November, 7. They expect $0.36 EPS, 0.00% or $0.00 from last year’s $0.36 per share. GGP’s profit will be $312.72 million for 17.03 P/E if the $0.36 EPS becomes a reality. After $0.36 actual EPS reported by General Growth Properties Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

General Growth Properties Inc (NYSE:GGP) Ratings Coverage

Out of 14 analysts covering General Growth Properties (NYSE:GGP), 10 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 71% are positive. General Growth Properties has been the topic of 26 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Deutsche Bank with “Buy” on Thursday, August 6. The stock of General Growth Properties Inc (NYSE:GGP) has “Sell” rating given on Tuesday, August 11 by Zacks. The rating was downgraded by Zacks on Friday, August 28 to “Hold”. The stock of General Growth Properties Inc (NYSE:GGP) earned “Buy” rating by Evercore on Monday, March 7. As per Tuesday, August 4, the company rating was maintained by Oppenheimer. Boenning & Scattergood initiated the stock with “Outperform” rating in Friday, December 4 report. The rating was maintained by S&P Research on Wednesday, August 12 with “Buy”. The firm earned “Equal-Weight” rating on Thursday, August 18 by Barclays Capital. As per Thursday, August 20, the company rating was upgraded by Credit Suisse. The stock has “Equal-Weight” rating given by Barclays Capital on Tuesday, January 26.

According to Zacks Investment Research, “General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. It has ownership interests in, and management responsibilities for, a portfolio of regional shopping malls in numerous states. (Company Press Release)”

Insitutional Activity: The institutional sentiment increased to 1.25 in Q2 2016. Its up 0.09, from 1.16 in 2016Q1. The ratio is positive, as 30 funds sold all General Growth Properties Inc shares owned while 123 reduced positions. 36 funds bought stakes while 156 increased positions. They now own 833.99 million shares or 1.71% more from 819.97 million shares in 2016Q1.
Security Cap & Mgmt Inc accumulated 3.08 million shares or 3.11% of the stock. Murphy accumulated 0.04% or 8,950 shares. D E Shaw Incorporated holds 248,930 shares or 0.01% of its portfolio. Raymond James Assoc holds 0.01% or 124,841 shares in its portfolio. Cornerstone Advisors has 186 shares for 0.01% of their US portfolio. First Personal Serv has 750 shares for 0.01% of their US portfolio. Franklin Resources Inc, a California-based fund reported 651,565 shares. Wesbanco Bank Incorporated has invested 0.02% of its portfolio in General Growth Properties Inc (NYSE:GGP). Capstone Asset Management Com holds 45,425 shares or 0.04% of its portfolio. Arizona State Retirement has invested 0.08% of its portfolio in General Growth Properties Inc (NYSE:GGP). The New York-based Lazard Asset Mngmt Lc has invested 0.01% in General Growth Properties Inc (NYSE:GGP). Caisse De Depot Et Placement Du Quebec last reported 109,734 shares in the company. Bp Public Ltd has invested 0.08% of its portfolio in General Growth Properties Inc (NYSE:GGP). Balyasny Asset Ltd Liability Co holds 0.03% of its portfolio in General Growth Properties Inc (NYSE:GGP) for 177,741 shares. Bb&T Secs Ltd Co accumulated 0.01% or 16,848 shares.

More notable recent General Growth Properties Inc (NYSE:GGP) news were published by: Marketwatch.com which released: “Macy’s sells 5 stores to General Growth Properties for $46 mln” on October 31, 2016, also Forbes.com with their article: “General Growth Properties Enters Oversold Territory” published on October 26, 2016, Zacks.com published: “General Growth Properties (GGP) Misses on Revenues in Q3” on November 01, 2016. More interesting news about General Growth Properties Inc (NYSE:GGP) were released by: Prnewswire.com and their article: “REIT Stocks Technical Reports — General Growth Properties, DDR Corp., CBL …” published on November 02, 2016 as well as Nasdaq.com‘s news article titled: “General Growth Properties’ Profit Benefits from Asset Sales but Revenue Falls …” with publication date: October 31, 2016.

GGP Company Profile

General Growth Properties, Inc. (GGP), incorporated on July 1, 2010, is a self-administered and self-managed real estate investment trust (REIT). The Firm 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, clients and shareholders. The Firm owns, either entirely or with joint venture partners, over 130 retail properties located across the United States comprising approximately 130 million square feet of gross leasable area (GLA). The Company’s business is conducted through GGP Operating Partnership, LP (GGPOP), GGP Nimbus, LP (GGPN) and GGP Limited Partnership (GGPLP, and together with GGPN the Operating Partnerships), subsidiaries of GGP. The Operating Partnerships own an interest in the properties of GGP.

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