Shares of General Growth Properties (GGP) Rally 0.1%

On a relative basis, the stock has outperformed the S&P 500 by 5.32% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.1% in the last 1 week, and is up 9.93% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 4.56% and the 50-Day Moving Average is 9.3%.

General Growth Properties (NYSE:GGP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.04 and $30.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.08. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.01, notching a gain of 0.06% for the day. The total traded volume was 3,423,368 . The stock had closed at $30.99 on the previous day.


The company Insiders own 40.7% of General Growth Properties shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -20.82% . Institutional Investors own 93.11% of General Growth Properties shares. During last six month period, the net percent change held by insiders has seen a change of -0.09%. In a related news, The Securities and Exchange Commission has divulged that Levine Marvin J, Officer (Evp, Chief Legal Officer) of General Growth Properties, Inc., had unloaded 15,000 shares at an average price of $29.7 in a transaction dated on June 29, 2016. The total value of the transaction was worth $445,500.

General Growth Properties, Inc. (GGP) is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in owning and operating retail properties to communities, retailers, employees, consumers and shareholders. As of December 31, 2014, the Company owned, either entirely or with joint venture partners, 128 retail properties. The Companys business is conducted through GGP Operating Partnership, LP (GGPOP), GGP Nimbus, LP (GGPN) and GGP Limited Partnership (GGPLP or operating partnership), subsidiaries of GGP. The Operating Partnerships own an interest in the properties of GGP. As of December 31, 2014, GGP held approximately a 99% common equity ownership of the Operating Partnerships. In addition, the Operating Partnerships conduct their operations through General Growth Management, Inc. (GGMI), General Growth Services, Inc. (GGSI) and GGPLP REIT Services, LLC (GGPRS).

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *