Ashford Investment Management Exits Position in General Growth Properties Inc (GGP)

General Growth Properties Inc (GGP) : Ashford Investment Management has sold out all of its stake in General Growth Properties Inc during the most recent quarter, according to the disclosure filed by the company on Aug 12, 2016 with the SEC. The investment management company has sold out 65,800 shares of General Growth Properties Inc which is valued at $1,970,710.

Other Hedge Funds, Including , Pictet Asset Management Ltd reduced its stake in GGP by selling 6,100 shares or 1.98% in the most recent quarter. The Hedge Fund company now holds 302,165 shares of GGP which is valued at $9,049,842. General Growth Properties Inc makes up approx 0.03% of Pictet Asset Management Ltd’s portfolio.Hightower Advisors reduced its stake in GGP by selling 758 shares or 2.15% in the most recent quarter. The Hedge Fund company now holds 34,471 shares of GGP which is valued at $1,032,406. General Growth Properties Inc makes up approx 0.01% of Hightower Advisors’s portfolio.Blackrock Fund Advisors boosted its stake in GGP in the latest quarter, The investment management firm added 642,925 additional shares and now holds a total of 18,055,996 shares of General Growth Properties Inc which is valued at $540,777,080. General Growth Properties Inc makes up approx 0.11% of Blackrock Fund Advisors’s portfolio.Los Angeles Capital Management Equity Research Inc reduced its stake in GGP by selling 40,220 shares or 5.67% in the most recent quarter. The Hedge Fund company now holds 669,230 shares of GGP which is valued at $19,849,362. General Growth Properties Inc makes up approx 0.16% of Los Angeles Capital Management Equity Research Inc’s portfolio.

General Growth Properties Inc opened for trading at $29.15 and hit $29.54 on the upside on Monday, eventually ending the session at $29.43, with a gain of 1.06% or 0.31 points. The heightened volatility saw the trading volume jump to 24,36,435 shares. Company has a market cap of $26,038 M.

On the company’s financial health, General Growth Properties Inc reported $0.35 EPS for the quarter, based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $574.60 million for the quarter, compared to analysts expectations of $589.19 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Investors should note that on Aug 1, 2016, General Growth Properties Inc announced a cash dividend of $0.2000. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Oct 31, 2016.

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 Company’s 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).

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