GGP Inc (GGP) Holdings Trimmed by Russell Investments Group Ltd.
Russell Investments Group Ltd. trimmed its position in GGP Inc (NYSE:GGP) by 36.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,986,792 shares of the real estate investment trust’s stock after selling 1,749,413 shares during the period. Russell Investments Group Ltd.’s holdings in GGP were worth $61,091,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Piedmont Investment Advisors LLC purchased a new stake in shares of GGP in the 2nd quarter valued at approximately $151,000. Creative Planning purchased a new stake in shares of GGP in the 2nd quarter valued at approximately $231,000. Stifel Financial Corp purchased a new stake in shares of GGP in the 1st quarter valued at approximately $258,000. Suntrust Banks Inc. raised its stake in shares of GGP by 45.4% in the 1st quarter. Suntrust Banks Inc. now owns 13,375 shares of the real estate investment trust’s stock valued at $272,000 after acquiring an additional 4,177 shares during the period. Finally, IBM Retirement Fund raised its stake in shares of GGP by 48.5% in the 1st quarter. IBM Retirement Fund now owns 13,593 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 4,442 shares during the period. Institutional investors own 89.56% of the company’s stock.
A number of equities research analysts have recently issued reports on GGP shares. Zacks Investment Research raised shares of GGP from a “sell” rating to a “hold” rating in a research note on Thursday, June 28th. ValuEngine downgraded shares of GGP from a “sell” rating to a “strong sell” rating in a research note on Monday, July 2nd. Boenning Scattergood reissued a “buy” rating on shares of GGP in a research note on Friday, May 4th. SunTrust Banks reissued a “hold” rating on shares of GGP in a research note on Friday, July 20th. Finally, BMO Capital Markets set a $22.00 price target on shares of GGP and gave the company a “hold” rating in a research note 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 issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $24.80.
GGP (NYSE:GGP) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). GGP had a return on equity of 6.98% and a net margin of 24.46%. The business had revenue of $583.14 million for the quarter, compared to analysts’ expectations of $593.94 million. During the same period in the previous year, the company earned $0.35 earnings per share. GGP’s quarterly revenue was up 4.9% on a year-over-year basis. research analysts forecast that GGP Inc will post 1.53 earnings per share for the current fiscal year.
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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