Bank of New York Mellon Corp boosted its holdings in GGP Inc (NYSE:GGP) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,034,573 shares of the real estate investment trust’s stock after acquiring an additional 673,647 shares during the quarter. Bank of New York Mellon Corp’s holdings in GGP were worth $304,882,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of GGP. Nationwide Fund Advisors increased its position in GGP by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after acquiring an additional 224,759 shares during the period. Tredje AP fonden increased its position in GGP by 13.3% in the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after acquiring an additional 7,007 shares during the period. Nisa Investment Advisors LLC increased its position in GGP by 34.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 85,600 shares of the real estate investment trust’s stock valued at $2,002,000 after acquiring an additional 22,000 shares during the period. Bank of Montreal Can increased its position in GGP by 17.5% in the 4th quarter. Bank of Montreal Can now owns 298,253 shares of the real estate investment trust’s stock valued at $6,976,000 after acquiring an additional 44,385 shares during the period. Finally, National Pension Service increased its position in GGP by 15.7% in the 4th quarter. National Pension Service now owns 709,450 shares of the real estate investment trust’s stock valued at $16,594,000 after acquiring an additional 96,057 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.
Several analysts recently commented on GGP shares. Boenning Scattergood set a $35.00 target price on GGP and gave the company a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research cut GGP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Mizuho restated a “hold” rating and issued a $22.00 target price on shares of GGP in a research report on Friday. Stifel Nicolaus restated a “buy” rating and issued a $24.00 target price on shares of GGP in a research report on Wednesday, November 1st. Finally, BMO Capital Markets set a $22.00 target price on GGP and gave the company a “hold” rating in a research report on Tuesday, October 31st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. GGP has an average rating of “Hold” and an average price target of $24.79.
GGP (NYSE:GGP) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. GGP had a return on equity of 7.87% and a net margin of 28.24%. The company had revenue of $627.40 million for the quarter, compared to analysts’ expectations of $646.14 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. sell-side analysts predict that GGP Inc will post 1.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, April 12th. GGP’s dividend payout ratio (DPR) is presently 129.41%.
GGP Company Profile
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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