Mizuho Asset Managementltd. Lowers stake in General Growth Properties Inc (GGP)

General Growth Properties Inc (GGP) : Mizuho Asset Managementltd. reduced its stake in General Growth Properties Inc by 20.87% during the most recent quarter end. The investment management company now holds a total of 105,398 shares of General Growth Properties Inc which is valued at $2.9 Million after selling 27,798 shares in General Growth Properties Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.General Growth Properties Inc makes up approximately 0.80% of Mizuho Asset Managementltd.’s portfolio.

Other Hedge Funds, Including , Group One Trading sold out all of its stake in GGP during the most recent quarter. The investment firm sold 38,544 shares of GGP which is valued $1.1 Million.Ls Investment Advisors reduced its stake in GGP by selling 59 shares or 0.29% in the most recent quarter. The Hedge Fund company now holds 20,441 shares of GGP which is valued at $565,602. General Growth Properties Inc makes up approx 0.04% of Ls Investment Advisors’s portfolio.Psagot Investment House Ltd. reduced its stake in GGP by selling 1,500 shares or 25.0% in the most recent quarter. The Hedge Fund company now holds 4,500 shares of GGP which is valued at $124,515. General Growth Properties Inc makes up approx 0.01% of Psagot Investment House Ltd.’s portfolio.

General Growth Properties Inc closed down -0.19 points or -0.71% at $26.69 with 33,75,625 shares getting traded on Wednesday. Post opening the session at $26.9, the shares hit an intraday low of $26.49 and an intraday high of $26.93 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, General Growth Properties Inc reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.35. The company had revenue of $607.00 million for the quarter, compared to analysts expectations of $588.71 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Investors should note that on May 2, 2016, General Growth Properties Inc announced a cash dividend of $0.1900. The company’s management has announced Jul 13, 2016 as the ex-dividend date and fixed the record date on Jul 15, 2016. The payable date has been fixed on Jul 29, 2016.

Many Wall Street Analysts have commented on General Growth Properties Inc. Mizuho Initiated General Growth Properties Inc on Apr 14, 2016 to “Buy”, Price Target of the shares are set at $33.

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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