Investors Buy Shares of GGP (GGP) on Weakness

Investors purchased shares of GGP Inc (NYSE:GGP) on weakness during trading on Wednesday. $97.69 million flowed into the stock on the tick-up and $33.48 million flowed out of the stock on the tick-down, for a money net flow of $64.21 million into the stock. Of all companies tracked, GGP had the 16th highest net in-flow for the day. GGP traded down ($0.04) for the day and closed at $20.94

A number of analysts have recently weighed in on the stock. Mizuho upgraded shares of GGP from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, March 19th. Boenning Scattergood restated a “buy” rating and issued a $35.00 target price on shares of GGP in a report on Tuesday, March 27th. SunTrust Banks cut shares of GGP from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research note on Monday, March 26th. JPMorgan Chase & Co. cut shares of GGP from an “overweight” rating to a “neutral” rating in a research note on Tuesday, March 27th. Finally, Zacks Investment Research raised shares of GGP from a “sell” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. GGP has an average rating of “Hold” and an average price target of $25.18.

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $20.02 billion, a P/E ratio of 13.35 and a beta of 0.90.

GGP (NYSE:GGP) last released its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). GGP had a return on equity of 7.43% and a net margin of 26.30%. The firm had revenue of $574.17 million for the quarter, compared to analysts’ expectations of $571.59 million. During the same period in the prior year, the firm posted $0.36 earnings per share. GGP’s revenue for the quarter was up 1.4% on a year-over-year basis. analysts predict that GGP Inc will post 1.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 13th will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, July 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.20%. GGP’s dividend payout ratio is presently 56.05%.

A number of institutional investors have recently added to or reduced their stakes in GGP. Stifel Financial Corp purchased a new stake in GGP in the 1st quarter valued at about $258,000. Suntrust Banks Inc. boosted its position in 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 buying an additional 4,177 shares during the period. IBM Retirement Fund boosted its position in 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 buying an additional 4,442 shares during the period. Raymond James & Associates purchased a new stake in GGP in the 4th quarter valued at about $311,000. Finally, Natixis Advisors L.P. boosted its position in GGP by 44.7% in the 1st quarter. Natixis Advisors L.P. now owns 15,920 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 4,921 shares during the period. 91.19% of the stock is owned by institutional investors.

About GGP

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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