Investors Purchase High Volume of GGP Put Options (GGP)

GGP Inc (NYSE:GGP) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 5,106 put options on the stock. This represents an increase of approximately 1,355% compared to the typical volume of 351 put options.

Several research firms recently weighed in on GGP. Zacks Investment Research cut shares of GGP from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. JPMorgan Chase & Co. upgraded shares of GGP from a “neutral” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 26th. Stifel Nicolaus restated a “buy” rating and issued a $24.00 price objective on shares of GGP in a research report on Wednesday, November 1st. SunTrust Banks set a $26.00 price objective on shares of GGP and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, BMO Capital Markets set a $22.00 target price on shares of GGP and gave the company a “hold” rating in a research report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. GGP currently has a consensus rating of “Hold” and an average target price of $25.33.

Several hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in shares of GGP by 10.4% in the 4th quarter. State of Alaska Department of Revenue now owns 410,327 shares of the real estate investment trust’s stock valued at $9,595,000 after buying an additional 38,727 shares during the period. Havens Advisors LLC acquired a new position in shares of GGP in the 4th quarter valued at $5,263,000. Schwab Charles Investment Management Inc. grew its holdings in shares of GGP by 8.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 5,995,123 shares of the real estate investment trust’s stock valued at $140,226,000 after buying an additional 475,079 shares during the period. National Pension Service grew its holdings in shares of GGP by 15.7% in the 4th quarter. National Pension Service now owns 709,450 shares of the real estate investment trust’s stock valued at $16,594,000 after buying an additional 96,057 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of GGP by 17.5% in the 4th quarter. Bank of Montreal Can now owns 298,253 shares of the real estate investment trust’s stock valued at $6,976,000 after buying an additional 44,385 shares during the period. 96.27% of the stock is owned by institutional investors.

Shares of GGP (GGP) opened at $23.05 on Friday. The company has a market cap of $22,205.20, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 2.51 and a beta of 0.85. GGP has a 1 year low of $18.83 and a 1 year high of $25.91. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.68.

GGP (NYSE:GGP) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.14). GGP had a net margin of 29.96% and a return on equity of 8.34%. equities research analysts forecast that GGP will post 1.58 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Friday, December 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Thursday, December 14th. GGP’s dividend payout ratio (DPR) is 122.22%.

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About GGP

GGP Inc (GGP), formerly General Growth Properties, Inc, is a self-administered and self-managed real estate investment trust (REIT). The Company operates as a holding company, which is engaged in the operation, development and management of retail and other rental properties, primarily regional malls.

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