Revenue Update on General Growth Properties Inc(NYSE:GGP)

General Growth Properties Inc(NYSE:GGP) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $574.59M. Analysts estimated a revenue of $580.42M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.36.

In a different note, On Jul 19, 2016, Barclays said it Maintains its rating on General Growth Properties Inc. In the research note, the firm Raises the price-target to $29.00 per share. The shares have been rated ‘Equalweight’ by the firm.

General Growth Properties Inc (GGP) shares turned negative on Mondays trading session with the shares closing down -0.08 points or -0.26% at a volume of 26,32,737. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $31.345. The peak price level was also seen at $31.345 while the days lowest was $30.91. Finally the shares closed at $30.98. The 52-week high of the shares is $32.1 while the 52-week low is $24.22. According to the latest information available, the market cap of the company is $27,409 M.

Several Insider Transactions has been reported to the SEC. On Jun 29, 2016, Marvin J Levine (EVP, Chief Legal Officer) sold 15,000 shares at $29.70 per share price.Also, On Jun 28, 2016, Alan J Barocas (Sr. EVP, Leasing) sold 125,000 shares at $29.28 per share price.On Jun 27, 2016, Sandeep Mathrani (Chief Executive Officer) sold 600,000 shares at $28.76 per share price, according to the Form-4 filing with the securities and exchange commission.

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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