In today’s session General Growth Properties Inc (GGP) recorded an unusually high (1,558) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious GGP decrease. With 1,558 contracts traded and 904 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: GGP161216P00023000 closed last at: $0.34 or 5.6% down. About 678,701 shares traded hands. General Growth Properties Inc (NYSE:GGP) has declined 14.11% since April 8, 2016 and is downtrending. It has underperformed by 19.76% 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. $40 is the highest target while $27 is the lowest. The $34 average target is 39.34% above today’s ($24.4) stock price. General Growth Properties has been the topic of 26 analyst reports since August 4, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained General Growth Properties Inc (NYSE:GGP) rating on Wednesday, February 3. RBC Capital Markets has “Outperform” rating and $33 price target. The company was maintained on Monday, July 18 by Deutsche Bank. On Wednesday, March 16 the stock rating was reinitiated by Credit Suisse with “Outperform”. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, January 26. The stock of General Growth Properties Inc (NYSE:GGP) earned “Hold” rating by Zacks on Friday, August 28. BTIG Research initiated it with “Buy” rating and $35 target price in Thursday, August 25 report. The firm has “Buy” rating given on Thursday, August 6 by Deutsche Bank. The rating was maintained by Barclays Capital with “Equalweight” on Tuesday, July 19. The stock has “Buy” rating given by S&P Research on Wednesday, August 12. The rating was downgraded by JP Morgan on Thursday, December 17 to “Neutral”.
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.
Shinko Asset Management Limited has 1.36 million shares for 0.29% of their US portfolio. Moreover, Cbre Clarion Lc has 4.69% invested in General Growth Properties Inc (NYSE:GGP) for 20.06M shares. Grs Advisors Ltd Liability last reported 8.4% of its portfolio in the stock. Moreover, Keybank Association Oh has 0% invested in General Growth Properties Inc (NYSE:GGP) for 7,901 shares. Moreover, Balyasny Asset Management Limited Liability Corporation has 0.03% invested in General Growth Properties Inc (NYSE:GGP) for 177,741 shares. State Of Wisconsin Invest Board reported 569,668 shares or 0.07% of all its holdings. Prudential has invested 0.29% of its portfolio in General Growth Properties Inc (NYSE:GGP). Manufacturers Life Insur The owns 617,213 shares or 0.03% of their US portfolio. The North Carolina-based Piedmont Advisors has invested 0% in General Growth Properties Inc (NYSE:GGP). Pnc Ser Grp last reported 0% of its portfolio in the stock. Duff Phelps has invested 0.79% of its portfolio in General Growth Properties Inc (NYSE:GGP). Comml Bank Of America De owns 2.01M shares or 0.01% of their US portfolio. Parkside Fin Commercial Bank And Tru has 134 shares for 0% of their US portfolio. Ig Investment Management Ltd accumulated 0.03% or 259,282 shares. Janus Capital Mgmt Ltd Liability Corp, a Colorado-based fund reported 386,206 shares.
General Growth Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $21.28 billion. The Firm operates through operation, development and management of retail and other rental properties segment. It has a 18.91 P/E ratio. It is engaged in owning and operating retail properties to communities, retailers, employees, clients and shareholders.
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.
More recent General Growth Properties Inc (NYSE:GGP) news were published by: Forbes.com which released: “General Growth Properties Enters Oversold Territory” on October 26, 2016. Also Businesswire.com published the news titled: “Macy’s, Inc. Has Sold Five Stores to General Growth Properties” on October 31, 2016. Zacks.com‘s news article titled: “General Growth Properties (GGP) Misses on Revenues in Q3” with publication date: November 01, 2016 was also an interesting one.
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