General Growth Properties, Inc. (NYSE:GGP) traded up 8.3% during mid-day trading on Tuesday . The stock traded as high as $24.23 and last traded at $24.05. 31,738,700 shares were traded during trading, an increase of 401% from the average session volume of 6,331,790 shares. The stock had previously closed at $22.20.

Several equities research analysts have recently issued reports on the company. Boenning Scattergood set a $35.00 price target on General Growth Properties and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded General Growth Properties from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Sandler O’Neill lowered General Growth Properties from a “buy” rating to a “hold” rating and reduced their price target for the company from $31.00 to $24.00 in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 price target on shares of General Growth Properties in a report on Friday, August 4th. Finally, BMO Capital Markets assumed coverage on General Growth Properties in a report on Monday, September 11th. They set a “market perform” rating and a $22.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $25.46.

The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $22,750.00, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 2.25 and a beta of 0.79.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, December 14th. General Growth Properties’s payout ratio is 123.94%.

Hedge funds have recently modified their holdings of the stock. OppenheimerFunds Inc. increased its position in General Growth Properties by 29.5% in the 1st quarter. OppenheimerFunds Inc. now owns 14,120 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 3,217 shares during the period. UBS Asset Management Americas Inc. increased its position in General Growth Properties by 7.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,051,935 shares of the real estate investment trust’s stock worth $71,904,000 after buying an additional 216,668 shares during the period. Gluskin Sheff & Assoc Inc. bought a new position in General Growth Properties in the 2nd quarter worth approximately $24,573,000. Toronto Dominion Bank increased its position in General Growth Properties by 25.6% in the 2nd quarter. Toronto Dominion Bank now owns 197,789 shares of the real estate investment trust’s stock worth $4,659,000 after buying an additional 40,266 shares during the period. Finally, Nationwide Fund Advisors increased its position in General Growth Properties by 117.8% in the 3rd quarter. Nationwide Fund Advisors now owns 415,514 shares of the real estate investment trust’s stock worth $8,630,000 after buying an additional 224,759 shares during the period. 88.74% of the stock is currently owned by institutional investors and hedge funds.

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About General Growth Properties

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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