Resolution Capital Ltd Sells 400,720 Shares of GGP Inc (GGP)

Resolution Capital Ltd lessened its stake in GGP Inc (NYSE:GGP) by 55.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 324,000 shares of the real estate investment trust’s stock after selling 400,720 shares during the quarter. GGP comprises about 0.3% of Resolution Capital Ltd’s holdings, making the stock its 25th largest holding. Resolution Capital Ltd’s holdings in GGP were worth $6,629,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of GGP by 0.8% in the fourth quarter. BlackRock Inc. now owns 59,827,593 shares of the real estate investment trust’s stock valued at $1,399,367,000 after purchasing an additional 450,895 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of GGP by 5.4% in the fourth quarter. Bank of New York Mellon Corp now owns 13,034,573 shares of the real estate investment trust’s stock valued at $304,882,000 after purchasing an additional 673,647 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of GGP by 49.1% in the first quarter. Daiwa Securities Group Inc. now owns 12,632,903 shares of the real estate investment trust’s stock valued at $258,469,000 after purchasing an additional 4,162,699 shares during the last quarter. Northern Trust Corp increased its holdings in shares of GGP by 2.6% in the first quarter. Northern Trust Corp now owns 10,671,287 shares of the real estate investment trust’s stock valued at $218,335,000 after purchasing an additional 273,787 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in GGP by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 7,753,010 shares of the real estate investment trust’s stock worth $181,012,000 after acquiring an additional 337,592 shares during the period. 91.00% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the company. Boenning Scattergood reiterated a “buy” rating on shares of GGP in a research report on Friday, May 4th. ValuEngine lowered GGP from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. SunTrust Banks lowered GGP from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Monday, March 26th. Zacks Investment Research lowered GGP from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. Finally, Sandler O’Neill set a $24.00 price objective on GGP and gave the stock a “hold” rating in a research report on Tuesday, March 27th. Three analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.92.

GGP opened at $20.45 on Thursday, according to Marketbeat.com. GGP Inc has a 52 week low of $18.83 and a 52 week high of $24.37. The firm has a market cap of $19.54 billion, a PE ratio of 13.03 and a beta of 0.91. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.54.

GGP (NYSE:GGP) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). GGP had a return on equity of 7.43% and a net margin of 26.30%. The firm had revenue of $574.17 million for the quarter, compared to analysts’ expectations of $571.59 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. equities research analysts predict that GGP Inc will post 1.56 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, July 12th. This represents a $0.88 annualized dividend and a dividend yield of 4.30%. GGP’s dividend payout ratio is currently 56.05%.

GGP Company Profile

GGP Inc is an S&P 500 company focused exclusively on owning, managing, leasing and redeveloping high-quality retail properties throughout the United States. GGP is headquartered in Chicago, Illinois, and publicly traded on the NYSE under the symbol GGP.

Institutional Ownership by Quarter for GGP (NYSE:GGP)

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