M&T Bank Corp raised its position in General Growth Properties Inc. (NYSE:GGP) by 1.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,132 shares of the real estate investment trust’s stock after buying an additional 1,942 shares during the period. M&T Bank Corp’s holdings in General Growth Properties were worth $4,283,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GGP. Delta Lloyd NV raised its stake in General Growth Properties by 10.1% in the third quarter. Delta Lloyd NV now owns 540,451 shares of the real estate investment trust’s stock worth $14,916,000 after buying an additional 49,676 shares in the last quarter. Toronto Dominion Bank raised its stake in General Growth Properties by 438.2% in the third quarter. Toronto Dominion Bank now owns 16,970 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 13,817 shares in the last quarter. Amica Pension Fund Board of Trustees raised its stake in General Growth Properties by 18.0% in the third quarter. Amica Pension Fund Board of Trustees now owns 65,682 shares of the real estate investment trust’s stock worth $1,813,000 after buying an additional 10,000 shares in the last quarter. KBC Group NV raised its stake in General Growth Properties by 30.9% in the third quarter. KBC Group NV now owns 444,619 shares of the real estate investment trust’s stock worth $12,271,000 after buying an additional 105,042 shares in the last quarter. Finally, Amica Retiree Medical Trust raised its stake in General Growth Properties by 17.6% in the third quarter. Amica Retiree Medical Trust now owns 10,002 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,500 shares in the last quarter. 91.01% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for General Growth Properties (NYSE:GGP)

Shares of General Growth Properties Inc. (NYSE:GGP) traded down 0.12% during midday trading on Tuesday, reaching $25.66. 4,424,603 shares of the company’s stock traded hands. The stock has a market cap of $22.71 billion, a P/E ratio of 19.89 and a beta of 0.86. General Growth Properties Inc. has a 12 month low of $23.89 and a 12 month high of $32.10. The stock has a 50 day moving average of $25.49 and a 200-day moving average of $28.07.

General Growth Properties (NYSE:GGP) last announced its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. General Growth Properties had a return on equity of 15.19% and a net margin of 52.33%. The firm had revenue of $554.50 million for the quarter, compared to the consensus estimate of $564.02 million. During the same period in the prior year, the business earned $0.33 EPS. On average, equities research analysts forecast that General Growth Properties Inc. will post $1.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Thursday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Tuesday, December 13th. This is an increase from General Growth Properties’s previous quarterly dividend of $0.20. General Growth Properties’s dividend payout ratio (DPR) is currently 62.02%.

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GGP has been the subject of several research analyst reports. Zacks Investment Research raised shares of General Growth Properties from a “sell” rating to a “hold” rating in a report on Tuesday, November 22nd. Sandler O’Neill raised shares of General Growth Properties from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Friday, October 14th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $35.00 price target on shares of General Growth Properties in a report on Wednesday, October 12th. Hilliard Lyons initiated coverage on shares of General Growth Properties in a report on Wednesday, August 31st. They issued a “neutral” rating for the company. Finally, BTIG Research initiated coverage on shares of General Growth Properties in a report on Thursday, August 25th. They issued a “buy” rating and a $35.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.87.

About General Growth Properties

General Growth Properties, Inc (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company 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, consumers and shareholders.

5 Day Chart for NYSE:GGP

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