Eii Capital Management Lowers stake in General Growth Properties Inc (GGP)

General Growth Properties Inc (GGP) : Eii Capital Management reduced its stake in General Growth Properties Inc by 22.42% during the most recent quarter end. The investment management company now holds a total of 430,000 shares of General Growth Properties Inc which is valued at $13,364,400 after selling 124,300 shares in General Growth Properties Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.General Growth Properties Inc makes up approximately 3.82% of Eii Capital Management’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc boosted its stake in GGP in the latest quarter, The investment management firm added 871 additional shares and now holds a total of 68,971 shares of General Growth Properties Inc which is valued at $2,143,619. General Growth Properties Inc makes up approx 0.02% of Cibc Asset Management Inc’s portfolio. Chicago Equity Partners sold out all of its stake in GGP during the most recent quarter. The investment firm sold 7,335 shares of GGP which is valued $234,353.Public Employees Retirement Association Of Colorado reduced its stake in GGP by selling 1,598 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 127,322 shares of GGP which is valued at $4,067,938. General Growth Properties Inc makes up approx 0.03% of Public Employees Retirement Association Of Colorado’s portfolio.Resolution Capital Ltd boosted its stake in GGP in the latest quarter, The investment management firm added 1,103,865 additional shares and now holds a total of 4,548,827 shares of General Growth Properties Inc which is valued at $142,742,191. General Growth Properties Inc makes up approx 9.20% of Resolution Capital Ltd’s portfolio.Pggm Investments boosted its stake in GGP in the latest quarter, The investment management firm added 1,000,000 additional shares and now holds a total of 14,742,682 shares of General Growth Properties Inc which is valued at $462,625,361. General Growth Properties Inc makes up approx 2.30% of Pggm Investments’s portfolio.

General Growth Properties Inc closed down -0.08 points or -0.26% at $30.98 with 26,32,737 shares getting traded on Monday. Post opening the session at $31.08, the shares hit an intraday low of $30.91 and an intraday high of $31.345 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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