Today: Today: Prudential Financial Inc. decides to keep it stake in General Growth Properties Inc. (GGP) to the level of $144,088,000

Today: Prudential Financial Inc. decides to keep it stake in General Growth Properties Inc. (GGP) to the level of $144,088,000

Prudential Financial Inc. reduced its position in General Growth Properties Inc. (NYSE:GGP) by 10.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,220,588 shares of the real estate investment trust’s stock after selling 613,832 shares during the period. Prudential Financial Inc. owned 0.59% of General Growth Properties worth $144,088,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. increased its stake in General Growth Properties by 0.6% in the third quarter. Shine Investment Advisory Services Inc. now owns 11,177 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 66 shares during the period. LS Investment Advisors LLC increased its stake in General Growth Properties by 0.5% in the second quarter. LS Investment Advisors LLC now owns 20,550 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 109 shares during the period. Phocas Financial Corp. increased its stake in General Growth Properties by 0.9% in the first quarter. Phocas Financial Corp. now owns 25,867 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 221 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in General Growth Properties by 1.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 14,491 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 226 shares during the period. Finally, Gateway Investment Advisers LLC increased its stake in General Growth Properties by 0.6% in the third quarter. Gateway Investment Advisers LLC now owns 41,945 shares of the real estate investment trust’s stock valued at $1,158,000 after buying an additional 246 shares during the period. Institutional investors own 91.01% of the company’s stock.

General Growth Properties Inc. (NYSE:GGP) opened at 25.63 on Monday. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 19.87 and a beta of 0.86. The firm has a 50-day moving average price of $25.50 and a 200 day moving average price of $28.09. General Growth Properties Inc. has a 1-year low of $23.89 and a 1-year high of $32.10.

General Growth Properties (NYSE:GGP) last issued its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company earned $554.50 million during the quarter, compared to analysts’ expectations of $564.02 million. General Growth Properties had a net margin of 52.33% and a return on equity of 15.19%. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities research analysts anticipate that General Growth Properties Inc. will post $1.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Shareholders of record on Thursday, December 15th will be issued a $0.22 dividend. This is a boost from General Growth Properties’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, December 13th. General Growth Properties’s dividend payout ratio is presently 62.02%.

Several research firms have recently weighed in on GGP. Barclays PLC lifted their target price on General Growth Properties from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Citigroup Inc. lifted their target price on General Growth Properties from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $35.00 target price on shares of General Growth Properties in a research report on Wednesday, August 3rd. BTIG Research began coverage on General Growth Properties in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 target price for the company. Finally, Deutsche Bank AG lifted their target price on General Growth Properties from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $32.87.

General Growth Properties Company Profile

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