GGP (NYSE:GGP) Downgrade
In an analyst note revealed to investors and clients on 2 February, equity analysts at Sandler O’Neill’s equity research division downgraded GGP (NYSE:GGP)’s Stock rating from “Hold” to “Sell”.
The company’s rating downgrade is noticed by stock speculators, as NYSE:GGP is right now trading 0.00% lower at $23.24 as of 4:03 PM New York time. GGP’s stock is 0% over the last 200 days. It has underperformed the S&P500, which has surged 6.00% over the same time period.
According to data compiled by Thomson Reuters, GGP (NYSE:GGP)’s stock is covered by 15 equity analysts across the Street, with 1 analysts giving it a Sell rating, 13 a Buy rating, while 4 consider it a Hold. The 12-month consensus target price for the stock is $32.27, which reflects an upside potential of 38.86% over the current price.
Brookfield Asset Management Inc. had the most significant stake with ownership of 258.23M shares as of Q2 2015 for 41.58% of the stocks portfolio. Presima Inc. is another quite bullish institutional investor who is possessing 3.22M shares of GGP or 13.56% of their stocks portfolio. Further, Resolution Capital Ltd have 9.28% of their stocks portfolio invested in the company for 5.24M shares. The Pennsylvania-based fund Cbre Clarion Securities Llc revealed it had acquired so far a stake worth about 6.61% of the institutional investor’s stock portfolio in GGP. The Illinois-based fund Grs Advisors Llc is also positive about the stock, possessing 29.83M shares or 4.39% of their stocks portfolio.
GGP (NYSE:GGP) Profile
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. As of December 31, 2016, the Company owned, either entirely or with joint venture partners, 127 retail properties located throughout the United States comprising approximately 125 million square feet of gross leasable area (GLA).
GGP (NYSE:GGP) closed at $23.24 yesterday. A total of shares of the company’s stock traded hands. This is down from average of 10.57M shares. GGP has a 52 week low of $18.83 and a 52 week high of $26.63. The company has a market cap of $21.98B and a P/E ratio of 32.51.
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