Wells Fargo & Company MN cut its position in GGP Inc (NYSE:GGP) by 25.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,651,966 shares of the real estate investment trust’s stock after selling 571,079 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of GGP worth $33,750,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Raymond James & Associates bought a new position in GGP during the 4th quarter worth approximately $311,000. Daiwa Securities Group Inc. grew its position in GGP by 49.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 12,632,903 shares of the real estate investment trust’s stock worth $258,469,000 after acquiring an additional 4,162,699 shares during the last quarter. Rhumbline Advisers grew its position in GGP by 1.5% during the 1st quarter. Rhumbline Advisers now owns 1,203,596 shares of the real estate investment trust’s stock worth $24,626,000 after acquiring an additional 18,286 shares during the last quarter. Commerzbank Aktiengesellschaft FI bought a new position in GGP during the 1st quarter worth approximately $472,000. Finally, Mizuho Securities USA LLC bought a new position in GGP during the 1st quarter worth approximately $665,000. Hedge funds and other institutional investors own 86.95% of the company’s stock.
Several research firms recently issued reports on GGP. Boenning Scattergood restated a “buy” rating on shares of GGP in a research report on Friday, May 4th. SunTrust Banks reiterated 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 Thursday, June 28th. ValuEngine lowered GGP from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, BMO Capital Markets set a $22.00 price objective on GGP and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.80.
Shares of GGP stock opened at $21.63 on Wednesday. The company has a market capitalization of $20.62 billion, a PE ratio of 13.73 and a beta of 0.91. GGP Inc has a fifty-two week low of $18.83 and a fifty-two week 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 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The business had revenue of $583.14 million during the quarter, compared to the consensus estimate of $593.94 million. GGP had a return on equity of 6.98% and a net margin of 24.46%. GGP’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. research analysts forecast that GGP Inc will post 1.53 earnings per share for the current year.
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.
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