General Growth Properties (GGP) : $4.38 million worth of transactions were on upticks in General Growth Properties (GGP), compared to $2.71 million on downticks. The ratio between the two was 1.61, whereas, the net money flow stood at a healthy $1.66 million on Wednesdays session. The consistent buying on upticks in the stock accounted for $2.15million worth of trades. The total money flow into the stock stood at $2.15 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.02%. The stock was trading at $31.1, with a drop of $0.01 over the previous days close. The stock recorded 0.27% for the week.
Also, Mizuho Securities initiates coverage on General Growth Properties (NYSE:GGP) The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency announces the price target to $33 per share. The rating by the firm was issued on April 13, 2016.
General Growth Properties (NYSE:GGP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $31.19 and $31.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $31.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $31.30, notching a gain of 0.64% for the day. The total traded volume was 2,837,983 . The stock had closed at $31.10 on the previous day.
The stock has recorded a 20-day Moving Average of 4.09% and the 50-Day Moving Average is 9.92%. In a related news, The Securities and Exchange Commission has divulged that Levine Marvin J, Officer (Evp, Chief Legal Officer) of General Growth Properties, Inc., had unloaded 15,000 shares at an average price of $29.7 in a transaction dated on June 29, 2016. The total value of the transaction was worth $445,500.
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).