Wedbush Securities Inc buys $49,278,278 stake in General Growth Properties Inc (GGP)

General Growth Properties Inc (GGP) : Wedbush Securities Inc scooped up 546 additional shares in General Growth Properties Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 1,675,562 shares of General Growth Properties Inc which is valued at $49,278,278.General Growth Properties Inc makes up approximately 8.79% of Wedbush Securities Inc’s portfolio.

General Growth Properties Inc opened for trading at $29.33 and hit $29.44 on the upside on Friday, eventually ending the session at $29.41, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 23,36,392 shares. Company has a market cap of $25,975 M.

Other Hedge Funds, Including , Commonwealth Equity Services Inc boosted its stake in GGP in the latest quarter, The investment management firm added 51 additional shares and now holds a total of 8,218 shares of General Growth Properties Inc which is valued at $230,351.Transamerica Financial Advisors reduced its stake in GGP by selling 35,653 shares or 68.33% in the most recent quarter. The Hedge Fund company now holds 16,521 shares of GGP which is valued at $472,170. General Growth Properties Inc makes up approx 0.04% of Transamerica Financial Advisors’s portfolio.Shine Investment Advisory Services Inc boosted its stake in GGP in the latest quarter, The investment management firm added 78 additional shares and now holds a total of 11,037 shares of General Growth Properties Inc which is valued at $315,437. General Growth Properties Inc makes up approx 0.35% of Shine Investment Advisory Services Inc’s portfolio. Murphy Capital Management Inc added GGP to its portfolio by purchasing 8,450 company shares during the most recent quarter which is valued at $241,501. General Growth Properties Inc makes up approx 0.04% of Murphy Capital Management Inc’s portfolio.

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.

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.Company shares were Reiterated by RBC Capital Mkts on Feb 3, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $32 .

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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