Signition LP acquired a new stake in GGP Inc (NYSE:GGP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 18,016 shares of the real estate investment trust’s stock, valued at approximately $368,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in GGP. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of GGP by 69.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 301,748 shares of the real estate investment trust’s stock worth $6,165,000 after purchasing an additional 123,505 shares during the last quarter. Nicola Wealth Management LTD. boosted its position in shares of GGP by 22.7% in the 2nd quarter. Nicola Wealth Management LTD. now owns 270,000 shares of the real estate investment trust’s stock worth $6,866,000 after purchasing an additional 50,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of GGP in the 2nd quarter worth $4,906,000. Virginia Retirement Systems ET AL boosted its position in shares of GGP by 19.8% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 513,480 shares of the real estate investment trust’s stock worth $10,490,000 after purchasing an additional 84,900 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of GGP in the 2nd quarter worth $1,988,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.
Several research firms have recently issued reports on GGP. BMO Capital Markets set a $22.00 price target on GGP and gave the stock a “hold” rating in a research report on Tuesday, July 31st. ValuEngine upgraded GGP from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. SunTrust Banks restated a “hold” rating on shares of GGP in a research report on Friday, July 20th. Zacks Investment Research upgraded GGP from a “sell” rating to a “hold” rating in a research report on Monday, July 9th. Finally, Boenning Scattergood restated a “buy” rating on shares of GGP in a research report on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. GGP has a consensus rating of “Hold” and an average price target of $25.05.
Shares of GGP opened at $21.42 on Friday, Marketbeat Ratings reports. The firm has a market cap of $20.71 billion, a P/E ratio of 13.64 and a beta of 0.91. GGP Inc has a 12 month low of $18.83 and a 12 month high of $24.23. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.98 and a current ratio of 0.98.
GGP (NYSE:GGP) last issued its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.01). The business had revenue of $583.14 million for the quarter, compared to analyst estimates of $593.94 million. GGP had a return on equity of 6.98% and a net margin of 24.46%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 EPS. analysts expect that GGP Inc will post 1.53 EPS for the current year.
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.
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