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OppenheimerFunds Inc. Purchases 3,217 Shares of General Growth Properties, Inc. (NYSE:GGP)
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Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Pension Service boosted its position in General Growth Properties by 16.7% in the first quarter. National Pension Service now owns 537,999 shares of the real estate investment trust’s stock worth $12,342,000 after buying an additional 77,033 shares during the last quarter. Norinchukin Bank The boosted its position in General Growth Properties by 7.1% in the first quarter. Norinchukin Bank The now owns 37,954 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 2,531 shares during the last quarter. Denali Advisors LLC purchased a new position in General Growth Properties during the first quarter worth approximately $3,412,000. Capstone Asset Management Co. boosted its position in General Growth Properties by 12.0% in the first quarter. Capstone Asset Management Co. now owns 61,473 shares of the real estate investment trust’s stock worth $1,425,000 after buying an additional 6,580 shares during the last quarter. Finally, Pensionfund Sabic boosted its position in General Growth Properties by 11.5% in the first quarter. Pensionfund Sabic now owns 29,000 shares of the real estate investment trust’s stock worth $672,000 after buying an additional 3,000 shares during the last quarter. 92.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Growth Properties, Inc. (NYSE:GGP) opened at 23.28 on Friday. The company has a 50 day moving average of $23.41 and a 200-day moving average of $23.69. General Growth Properties, Inc. has a 52 week low of $21.05 and a 52 week high of $32.10. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 18.62 and a beta of 0.77.
General Growth Properties (NYSE:GGP) last posted its quarterly earnings data on Monday, May 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.25. General Growth Properties had a net margin of 52.21% and a return on equity of 14.38%. The business had revenue of $566.33 million during the quarter, compared to the consensus estimate of $561.66 million. During the same period in the prior year, the company posted $0.40 earnings per share. The firm’s revenue was down 6.7% compared to the same quarter last year. On average, equities research analysts expect that General Growth Properties, Inc. will post $0.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Thursday, July 13th will be given a $0.22 dividend. The ex-dividend date is Tuesday, July 11th. This represents a $0.88 annualized dividend and a dividend yield of 3.78%. General Growth Properties’s dividend payout ratio is 70.97%.
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GGP has been the topic of a number of recent research reports. Zacks Investment Research cut shares of General Growth Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) cut shares of General Growth Properties from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $23.00 to $22.00 in a research report on Tuesday, June 20th. ValuEngine raised shares of General Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, May 11th. Royal Bank Of Canada reduced their target price on shares of General Growth Properties from $29.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, May 8th. Finally, BidaskClub cut shares of General Growth Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. General Growth Properties currently has a consensus rating of “Hold” and an average price target of $28.96.
About General Growth Properties
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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