General Growth Properties (GGP) : Traders are bullish on General Growth Properties (GGP) as it has outperformed the S&P 500 by a wide margin of 3.56% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.95%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.88% in the last 1 week, and is up 7.04% 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 3.1% and the 50-Day Moving Average is 10.37%. General Growth Properties, Inc is up 13.99% in the last 3-month period. Year-to-Date the stock performance stands at 17.42%.
General Growth Properties (NYSE:GGP): stock turned positive on Friday. Though the stock opened at $31.7, the bulls momentum made the stock top out at $32.06 level for the day. The stock recorded a low of $31.63 and closed the trading day at $31.95, in the green by 0.92%. The total traded volume for the day was 2,803,640. The stock had closed at $31.66 in the previous days trading.
Also, Barclays maintains their rating on the shares of General Growth Properties (NYSE:GGP). The current rating of the shares is Equalweight. Equity Analysts at the Firm raises the price target to $30 per share from $29 per share. The rating by the firm was issued on July 19, 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 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).