General Growth Properties, Inc. (GGP) Short Interest Update
General Growth Properties, Inc. (NYSE:GGP) was the target of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 52,492,806 shares, a decrease of 21.8% from the October 31st total of 67,131,952 shares. Based on an average trading volume of 16,922,771 shares, the short-interest ratio is presently 3.1 days. Approximately 8.5% of the shares of the stock are short sold.
A number of large investors have recently made changes to their positions in GGP. Tredje AP fonden grew its holdings in General Growth Properties by 13.3% during the 3rd quarter. Tredje AP fonden now owns 59,621 shares of the real estate investment trust’s stock valued at $1,238,000 after buying an additional 7,007 shares during the last quarter. Toronto Dominion Bank grew its holdings in General Growth Properties by 25.6% during the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock valued at $4,659,000 after buying an additional 40,266 shares during the last quarter. Nationwide Fund Advisors grew its holdings in General Growth Properties by 117.8% during the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock valued at $8,630,000 after buying an additional 224,759 shares during the last quarter. Gluskin Sheff & Assoc Inc. acquired a new stake in General Growth Properties during the 2nd quarter valued at $24,573,000. Finally, UBS Asset Management Americas Inc. grew its holdings in General Growth Properties by 7.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock valued at $71,904,000 after buying an additional 216,668 shares during the last quarter. Hedge funds and other institutional investors own 97.24% of the company’s stock.
Shares of General Growth Properties (NYSE:GGP) opened at $23.59 on Monday. The company has a market capitalization of $22,315.60, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 2.51 and a beta of 0.84. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68. General Growth Properties has a fifty-two week low of $18.83 and a fifty-two week high of $26.63.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s dividend payout ratio (DPR) is presently 122.22%.
A number of research firms recently weighed in on GGP. Boenning Scattergood set a $35.00 price target on General Growth Properties and gave the stock a “buy” rating in a report on Wednesday, November 1st. BMO Capital Markets began coverage on General Growth Properties in a report on Monday, September 11th. They issued a “market perform” rating and a $22.00 price target on the stock. Royal Bank Of Canada lowered their price target on General Growth Properties from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, August 17th. SunTrust Banks set a $26.00 price target on General Growth Properties and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $24.00 price target on shares of General Growth Properties in a report on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. General Growth Properties currently has a consensus rating of “Hold” and a consensus price target of $25.42.
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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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