Duff & Phelps Investment Management Co. increased its stake in General Growth Properties Inc. (NYSE:GGP) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,119,317 shares of the real estate investment trust’s stock after buying an additional 338,071 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.24% of General Growth Properties worth $58,493,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Iowa State Bank bought a new position in shares of General Growth Properties during the second quarter valued at $122,000. Checchi Capital Advisers LLC increased its stake in General Growth Properties by 25.7% in the second quarter. Checchi Capital Advisers LLC now owns 5,206 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 1,066 shares during the period. Advisor Group Inc. acquired a new stake in General Growth Properties during the second quarter worth about $184,000. Global X Management Co. LLC increased its stake in General Growth Properties by 47.2% in the second quarter. Global X Management Co. LLC now owns 6,236 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 1,999 shares during the period. Finally, Hancock Holding Co. increased its stake in General Growth Properties by 7.1% in the second quarter. Hancock Holding Co. now owns 7,870 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 525 shares during the period. Institutional investors and hedge funds own 91.01% of the company’s stock.

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

Shares of General Growth Properties Inc. (NYSE:GGP) traded down 1.33% during trading on Wednesday, reaching $25.32. The company had a trading volume of 163,896 shares. The firm has a market capitalization of $22.41 billion, a PE ratio of 19.63 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 price of $25.49 and a 200 day moving average price of $28.07.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Thursday, December 15th will be issued a $0.22 dividend. This is a positive change from General Growth Properties’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Tuesday, December 13th. General Growth Properties’s payout ratio is 62.02%.

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A number of analysts recently issued reports on the stock. Barclays PLC increased their target price on shares of General Growth Properties from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Citigroup Inc. increased their target price on shares of General Growth Properties from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, August 8th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $35.00 target price on shares of General Growth Properties in a research report on Wednesday, August 3rd. BTIG Research assumed coverage on shares of General Growth Properties in a research report on Thursday, August 25th. They set a “buy” rating and a $35.00 target price for the company. Finally, Deutsche Bank AG increased their target price on shares of General Growth Properties from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $32.87.

General Growth Properties Company Profile

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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