General Growth Properties Target of Unusually Large Options Trading (GGP)
Shares of General Growth Properties (NYSE:GGP) were the target of unusually large options trading on Tuesday. Stock investors bought 23,376 call options on the company, StockRatingsNetwork.com reports. This represents an increase of 900% compared to the typical daily volume of 2,337 call options.
In other General Growth Properties news, Director John Haley bought 3,400 shares of the stock on the open market in a transaction that occurred on Tuesday, February 11th. The shares were purchased at an average cost of $20.90 per share, with a total value of $71,060.00. Following the completion of the transaction, the director now directly owns 48,081 shares in the company, valued at approximately $1,004,893. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on GGP. Analysts at S&P Equity Research initiated coverage on shares of General Growth Properties in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of General Growth Properties from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 16th. Finally, analysts at Oppenheimer initiated coverage on shares of General Growth Properties in a research note on Monday, January 6th. They set an “outperform” rating on the stock. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $21.33.
Shares of General Growth Properties (NYSE:GGP) opened at 22.39 on Wednesday. General Growth Properties has a 52 week low of $18.63 and a 52 week high of $23.33. The stock’s 50-day moving average is $20.42 and its 200-day moving average is $20.2. The company has a market cap of $20.401 billion and a price-to-earnings ratio of 70.71.
General Growth Properties (NYSE:GGP) last announced its earnings results on Monday, February 3rd. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.35 by $0.01. The company had revenue of $681.40 million for the quarter, compared to the consensus estimate of $664.08 million. During the same quarter last year, the company posted $0.31 earnings per share. General Growth Properties’s revenue was up 2.7% compared to the same quarter last year. On average, analysts predict that General Growth Properties will post $1.29 earnings per share for the current fiscal year.
General Growth Properties, Inc is a real estate investment trust (NYSE:GGP).
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