The stock of General Growth Properties Inc (NYSE:GGP) hit a new 52-week low and has $23.18 target or 6.00% below today’s $24.66 share price. The 7 months bearish chart indicates high risk for the $21.88B company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $23.18 price target is reached, the company will be worth $1.31 billion 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 2.37 million shares traded hands. General Growth Properties Inc (NYSE:GGP) has declined 12.31% since April 7, 2016 and is downtrending. It has underperformed by 17.09% the S&P500.
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 stock has “Hold” rating given by Zacks on Friday, August 28. On Wednesday, February 3 the stock rating was maintained by RBC Capital Markets with “Outperform”. The firm has “Outperform” rating given on Friday, December 4 by Boenning & Scattergood. Credit Suisse reinitiated General Growth Properties Inc (NYSE:GGP) on Wednesday, March 16 with “Outperform” rating. The rating was downgraded by JP Morgan to “Neutral” on Thursday, December 17. On Thursday, August 20 the stock rating was upgraded by Credit Suisse to “Outperform”. The stock has “Neutral” rating given by Hilliard Lyons on Wednesday, August 31. Sandler O’Neill upgraded the stock to “Buy” rating in Friday, October 14 report. The firm earned “Buy” rating on Monday, March 7 by Evercore. Barclays Capital maintained the shares of GGP in a report on Tuesday, July 19 with “Equalweight” rating.
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 2016 Q2. Its up 0.09, from 1.16 in 2016Q1. The ratio increased, 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.
Landscape Cap Lc last reported 192,500 shares in the company. Blackrock Group Limited owns 7.35M shares or 0.11% of their US portfolio. Moreover, State Of Tennessee Treasury Department has 0.1% invested in General Growth Properties Inc (NYSE:GGP) for 639,013 shares. National Bank & Trust Of Montreal Can accumulated 0.01% or 149,167 shares. Bokf Na has invested 0.15% of its portfolio in General Growth Properties Inc (NYSE:GGP). Allstate Corporation has 12,683 shares for 0.02% of their US portfolio. The Maryland-based Chevy Chase Trust Inc has invested 0.08% in General Growth Properties Inc (NYSE:GGP). Tcw Gru has 0.15% invested in the company for 685,187 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 211,022 shares or 0.08% of its portfolio. Westpac Bk Corporation has 1.11M shares for 0% of their US portfolio. Moreover, Bamco Inc Ny has 0.18% invested in General Growth Properties Inc (NYSE:GGP) for 1.15M shares. Canada Pension Plan Inv Board has 0.02% invested in the company for 176,786 shares. Dimensional Fund Advsrs L P owns 7.49M shares or 0.13% of their US portfolio. Shinko Asset Mgmt Limited, a Japan-based fund reported 1.36 million shares. Connor Clark Lunn Inv Mgmt Limited has invested 0.03% of its portfolio in General Growth Properties Inc (NYSE:GGP).
More important 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 Businesswire.com published article titled: “Macy’s, Inc. Has Sold Five Stores to General Growth Properties”, Forbes.com published: “General Growth Properties Enters Oversold Territory” on October 26, 2016. More interesting news about General Growth Properties Inc (NYSE:GGP) was released by: Zacks.com and their article: “General Growth Properties (GGP) Misses on Revenues in Q3” with publication date: November 01, 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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