GGP Inc (GGP) Stake Lifted by Presima Inc.

Presima Inc. raised its holdings in GGP Inc (NYSE:GGP) by 25.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,786,700 shares of the real estate investment trust’s stock after buying an additional 362,500 shares during the quarter. GGP comprises 4.5% of Presima Inc.’s investment portfolio, making the stock its 12th largest position. Presima Inc. owned approximately 0.19% of GGP worth $36,502,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Xact Kapitalforvaltning AB boosted its position in shares of GGP by 2.2% during the first quarter. Xact Kapitalforvaltning AB now owns 118,315 shares of the real estate investment trust’s stock valued at $2,421,000 after purchasing an additional 2,576 shares in the last quarter. State Treasurer State of Michigan boosted its position in shares of GGP by 1.6% during the first quarter. State Treasurer State of Michigan now owns 185,912 shares of the real estate investment trust’s stock valued at $3,804,000 after purchasing an additional 2,900 shares in the last quarter. Ninepoint Partners LP boosted its position in shares of GGP by 19.7% during the first quarter. Ninepoint Partners LP now owns 18,198 shares of the real estate investment trust’s stock valued at $372,000 after purchasing an additional 3,000 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of GGP by 7.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 46,183 shares of the real estate investment trust’s stock valued at $1,080,000 after purchasing an additional 3,022 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of GGP by 4.3% during the second quarter. Amalgamated Bank now owns 80,125 shares of the real estate investment trust’s stock valued at $1,637,000 after purchasing an additional 3,307 shares in the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Several equities research analysts recently weighed in on GGP shares. ValuEngine lowered GGP from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Boenning Scattergood restated a “buy” rating on shares of GGP in a research report on Friday, May 4th. Zacks Investment Research lowered GGP from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. SunTrust Banks restated a “hold” rating on shares of GGP in a research report on Friday, July 20th. Finally, BMO Capital Markets set a $22.00 price target on GGP and gave the company a “hold” rating in a research report on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.05.

GGP traded down $0.10, reaching $21.42, during trading hours on Friday, Marketbeat Ratings reports. 5,595,937 shares of the company traded hands, compared to its average volume of 13,294,526. The stock has a market capitalization of $20.71 billion, a price-to-earnings ratio of 13.64 and a beta of 0.91. GGP Inc has a 1 year low of $18.83 and a 1 year high of $24.23. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.56.

GGP (NYSE:GGP) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.01). The company had revenue of $583.14 million for the quarter, compared to analysts’ expectations of $593.94 million. GGP had a net margin of 24.46% and a return on equity of 6.98%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. equities research analysts predict that GGP Inc will post 1.53 EPS for the current year.

GGP Profile

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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Institutional Ownership by Quarter for GGP (NYSE:GGP)

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