The stock of General Growth Properties Inc (NYSE:GGP) is a huge mover today! The stock decreased 1.66% or $0.44 on October 5, hitting $26.1. General Growth Properties Inc (NYSE:GGP) has declined 6.91% since March 2, 2016 and is downtrending. It has underperformed by 15.17% the S&P500.
The move comes after 9 months negative chart setup for the $23.16 billion company. It was reported on Oct, 6 by Barchart.com. We have $24.80 PT which if reached, will make NYSE:GGP worth $1.16 billion less.
Analysts await General Growth Properties Inc (NYSE:GGP) to report earnings on November, 7. They expect $0.36 earnings per share, 0.00% or $0.00 from last year’s $0.36 per share. GGP’s profit will be $319.45 million for 18.13 P/E if the $0.36 EPS becomes a reality. After $0.36 actual earnings per share reported by General Growth Properties Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
General Growth Properties Inc (NYSE:GGP) Ratings Coverage
Out of 13 analysts covering General Growth Properties (NYSE:GGP), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. General Growth Properties has been the topic of 25 analyst reports since August 4, 2015 according to StockzIntelligence Inc. BTIG Research initiated General Growth Properties Inc (NYSE:GGP) on Thursday, August 25 with “Buy” rating. The firm earned “Outperform” rating on Wednesday, March 16 by Credit Suisse. The firm has “Outperform” rating by Boenning & Scattergood given on Friday, December 4. Evercore upgraded General Growth Properties Inc (NYSE:GGP) rating on Monday, March 7. Evercore has “Buy” rating and $31 price target. Barclays Capital maintained the shares of GGP in a report on Tuesday, July 19 with “Equalweight” rating. The rating was downgraded by Zacks to “Hold” on Friday, August 28. As per Tuesday, September 8, the company rating was maintained by Evercore. On Monday, July 18 the stock rating was maintained by Deutsche Bank with “Buy”. The firm earned “Neutral” rating on Thursday, December 17 by JP Morgan. As per Tuesday, August 11, the company rating was upgraded by Zacks.
According to Zacks Investment Research, “General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. It has ownership interests in, and management responsibilities for, a portfolio of regional shopping malls in numerous states. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 1.25 in 2016 Q2. Its up 0.09, from 1.16 in 2016Q1. The ratio is positive, as 30 funds sold all General Growth Properties Inc shares owned while 123 reduced positions. 36 funds bought stakes while 156 increased positions. They now own 833.99 million shares or 1.71% more from 819.97 million shares in 2016Q1.
Adage Gp accumulated 862,900 shares or 0.07% of the stock. Hightower Advsr Ltd Company has 34,471 shares for 0.01% of their US portfolio. Sumitomo Mitsui Asset Mgmt Ltd owns 82,499 shares or 0.07% of their US portfolio. Element Cap Mngmt Ltd Llc holds 0.34% or 74,463 shares in its portfolio. Moreover, Johnson Inv Counsel has 0.02% invested in General Growth Properties Inc (NYSE:GGP) for 24,597 shares. Clearbridge Investments Lc owns 212,612 shares or 0.01% of their US portfolio. 1832 Asset Mngmt L P accumulated 0.15% or 1.26 million shares. Dekabank Deutsche Girozentrale holds 0.01% or 17,852 shares in its portfolio. The Florida-based Ladenburg Thalmann Finance Ser Incorporated has invested 0% in General Growth Properties Inc (NYSE:GGP). Glenmede Tru Com Na owns 600 shares or 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0.08% of its portfolio in General Growth Properties Inc (NYSE:GGP). Carroll Fincl Assoc accumulated 517 shares or 0% of the stock. Eii Mgmt holds 3.76% of its portfolio in General Growth Properties Inc (NYSE:GGP) for 430,000 shares. Great West Life Assurance Commerce Can has invested 0.03% of its portfolio in General Growth Properties Inc (NYSE:GGP). Eaton Vance Management accumulated 0% or 51,822 shares.
More news for General Growth Properties Inc (NYSE:GGP) were recently published by: Nasdaq.com, which released: “General Growth Properties Becomes Oversold” on October 03, 2016. Finance.Yahoo.com‘s article titled: “General Growth Properties Schedules Third Quarter 2016 Earnings Release and …” and published on September 23, 2016 is yet another important article.
GGP Company Profile
General Growth Properties, Inc. (GGP), incorporated on July 1, 2010, is a self-administered and self-managed real estate investment trust (REIT). The Firm operates through operation, development and management of retail and other rental properties segment. It is engaged in owning and operating retail properties to communities, retailers, employees, clients and shareholders. The Firm owns, either entirely or with joint venture partners, over 130 retail properties located across the United States comprising approximately 130 million square feet of gross leasable area (GLA). The Company’s business is conducted through GGP Operating Partnership, LP (GGPOP), GGP Nimbus, LP (GGPN) and GGP Limited Partnership (GGPLP, and together with GGPN the Operating Partnerships), subsidiaries of GGP. The Operating Partnerships own an interest in the properties of GGP.
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