GGP Inc (GGP) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC cut its position in GGP Inc (NYSE:GGP) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,282,300 shares of the real estate investment trust’s stock after selling 63,075 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.24% of GGP worth $53,383,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nationwide Fund Advisors grew its position in GGP 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in GGP by 2.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 173,572 shares of the real estate investment trust’s stock worth $4,060,000 after purchasing an additional 3,623 shares during the last quarter. Allianz Asset Management GmbH grew its position in GGP by 101.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,907,243 shares of the real estate investment trust’s stock worth $44,611,000 after purchasing an additional 961,832 shares during the last quarter. Bluestein R H & Co. acquired a new stake in GGP in the 4th quarter worth $468,000. Finally, Levin Capital Strategies L.P. acquired a new stake in GGP in the 4th quarter worth $215,000. Institutional investors own 95.81% of the company’s stock.
GGP has been the topic of several research analyst reports. Zacks Investment Research lowered shares of GGP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Boenning Scattergood set a $35.00 price target on shares of GGP and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Sandler O’Neill lowered shares of GGP from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Mizuho upgraded shares of GGP from a “neutral” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday. Finally, Barclays decreased their price target on shares of GGP from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. GGP has a consensus rating of “Hold” and an average price target of $24.95.
GGP (NYSE:GGP) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $627.40 million during the quarter, compared to the consensus estimate of $646.14 million. GGP had a net margin of 28.24% and a return on equity of 7.87%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. research analysts anticipate that GGP Inc will post 1.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, April 12th. GGP’s payout ratio is 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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