General Growth Properties, Inc. (NYSE:GGP) shares shot up 8.3% during mid-day trading on Tuesday . The company traded as high as $24.23 and last traded at $24.05. 31,738,700 shares changed hands during trading, an increase of 401% from the average session volume of 6,331,790 shares. The stock had previously closed at $22.20.

A number of brokerages recently issued reports on GGP. Boenning Scattergood set a $35.00 price target on General Growth Properties and gave the company a “buy” rating in a report on Tuesday. SunTrust Banks, Inc. set a $26.00 price target on General Growth Properties and gave the company a “buy” rating in a report on Tuesday, October 31st. Stifel Nicolaus restated a “buy” rating and set a $24.00 price target on shares of General Growth Properties in a report on Wednesday, November 1st. BMO Capital Markets set a $22.00 price target on General Growth Properties and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, J P Morgan Chase & Co upgraded General Growth Properties from a “neutral” rating to an “overweight” rating and set a $25.00 price target on the stock in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $25.46.

The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $22,656.15, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 15th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.69%. General Growth Properties’s dividend payout ratio is currently 122.22%.

Several institutional investors and hedge funds have recently modified their holdings of GGP. OppenheimerFunds Inc. boosted its position in shares of General Growth Properties by 29.5% in the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 3,217 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of General Growth Properties by 7.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after purchasing an additional 216,668 shares in the last quarter. Gluskin Sheff & Assoc Inc. bought a new stake in shares of General Growth Properties in the 2nd quarter worth approximately $24,573,000. Toronto Dominion Bank boosted its position in shares of General Growth Properties by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after purchasing an additional 40,266 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its position in shares of General Growth Properties by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after purchasing an additional 224,759 shares in the last quarter. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

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General Growth Properties Company Profile

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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