94,191 Shares in GGP Inc (GGP) Purchased by Gabelli Funds LLC
Gabelli Funds LLC bought a new position in shares of GGP Inc (NYSE:GGP) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 94,191 shares of the real estate investment trust’s stock, valued at approximately $2,203,000.
Other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors grew its holdings in GGP by 117.8% during the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after acquiring an additional 224,759 shares during the last quarter. Havens Advisors LLC bought a new stake in GGP during the 4th quarter worth about $5,263,000. Strs Ohio grew its holdings in GGP by 3.1% during the 4th quarter. Strs Ohio now owns 841,434 shares of the real estate investment trust’s stock worth $19,681,000 after acquiring an additional 25,664 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in GGP by 10.4% during the 4th quarter. State of Alaska Department of Revenue now owns 410,327 shares of the real estate investment trust’s stock worth $9,595,000 after acquiring an additional 38,727 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in GGP by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after acquiring an additional 40,266 shares during the last quarter. Institutional investors and hedge funds own 95.31% of the company’s stock.
A number of equities research analysts have commented on GGP shares. ValuEngine lowered shares of GGP from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Boenning Scattergood reissued a “buy” rating and set a $34.50 price objective on shares of GGP in a report on Tuesday, November 21st. SunTrust Banks set a $26.00 price objective on shares of GGP and gave the stock a “buy” rating in a report on Tuesday, October 31st. Royal Bank of Canada reissued a “buy” rating and set a $24.00 price objective on shares of GGP in a report on Monday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $24.00 price objective on shares of GGP in a report on Wednesday, November 1st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.00.
GGP (NYSE:GGP) last issued its 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. The company had revenue of $627.40 million for the quarter, compared to analyst estimates of $646.14 million. GGP had a net margin of 28.24% and a return on equity of 7.87%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. sell-side analysts expect that GGP Inc will post 1.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Thursday, April 12th. GGP’s dividend payout ratio (DPR) is presently 127.54%.
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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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