The stock of General Growth Properties Inc (NYSE:GGP) is a huge mover today! About 1.63 million shares traded hands. General Growth Properties Inc (NYSE:GGP) has declined 11.11% since April 26, 2016 and is downtrending. It has underperformed by 16.37% the S&P500.
The move comes after 9 months positive chart setup for the $23.08 billion company. It was reported on Nov, 29 by Barchart.com. We have $27.60 PT which if reached, will make NYSE:GGP worth $1.62B more.
Analysts await General Growth Properties Inc (NYSE:GGP) to report earnings on February, 6. They expect $0.43 EPS, 0.00% or $0.00 from last year’s $0.43 per share. GGP’s profit will be $384.78 million for 14.98 P/E if the $0.43 EPS becomes a reality. After $0.35 actual EPS reported by General Growth Properties Inc for the previous quarter, Wall Street now forecasts 22.86% 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. Deutsche Bank maintained it with “Buy” rating and $35 target price in Monday, July 18 report. On Wednesday, August 31 the stock rating was initiated by Hilliard Lyons with “Neutral”. The firm has “Buy” rating given on Monday, March 7 by Evercore. As per Wednesday, March 16, the company rating was reinitiated by Credit Suisse. As per Friday, December 4, the company rating was initiated by Boenning & Scattergood. The firm has “Buy” rating given on Tuesday, September 8 by Evercore. Deutsche Bank maintained the shares of GGP in a report on Wednesday, August 17 with “Buy” rating. Sandler O’Neill upgraded the stock to “Buy” rating in Friday, October 14 report. The company was maintained on Tuesday, July 19 by Barclays Capital. The firm earned “Buy” rating on Tuesday, August 4 by Oppenheimer.
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 decreased to 1.1 in 2016 Q2. Its down 0.15, from 1.25 in 2016Q1. The ratio is negative, 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.
Manning Napier Advsr Lc has invested 0.05% of its portfolio in General Growth Properties Inc (NYSE:GGP). Moreover, Suntrust Banks has 0% invested in General Growth Properties Inc (NYSE:GGP) for 10,579 shares. The Arizona-based Arizona State Retirement Sys has invested 0.08% in General Growth Properties Inc (NYSE:GGP). Moreover, Visium Asset Management Lp has 0.14% invested in General Growth Properties Inc (NYSE:GGP) for 66,556 shares. Great West Life Assurance Communications Can, a Manitoba – Canada-based fund reported 318,386 shares. Veritable L P has invested 0.04% of its portfolio in General Growth Properties Inc (NYSE:GGP). Blackrock Fund Advisors accumulated 18.06M shares or 0.12% of the stock. Lombard Odier Asset Mngmt (Europe) Limited has invested 0.02% of its portfolio in General Growth Properties Inc (NYSE:GGP). King Luther Capital has invested 0% of its portfolio in General Growth Properties Inc (NYSE:GGP). Commonwealth Of Pennsylvania Public School Empls Retrmt System has 0.03% invested in the company for 46,672 shares. Advantus Mgmt, a Minnesota-based fund reported 1.12 million shares. Hartford Investment Management has invested 0.09% of its portfolio in General Growth Properties Inc (NYSE:GGP). Denali Advsrs Lc last reported 0.15% of its portfolio in the stock. Brookfield Asset Mgmt has 44.89% invested in the company for 299.50M shares. Calamos Advsr Limited Liability Company last reported 7,900 shares in the company.
More news for General Growth Properties Inc (NYSE:GGP) were recently published by: Marketwatch.com, which released: “Macy’s sells 5 stores to General Growth Properties for $46 mln” on October 31, 2016. Zacks.com‘s article titled: “General Growth Properties (GGP) Misses on Revenues in Q3” and published on November 01, 2016 is yet another important article.
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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