Wedbush Securities Inc buys $52,098,845 stake in General Growth Properties Inc (GGP)

General Growth Properties Inc (GGP) : Wedbush Securities Inc scooped up 720 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 Aug 2, 2016. The investment management firm now holds a total of 1,676,282 shares of General Growth Properties Inc which is valued at $52,098,845.General Growth Properties Inc makes up approximately 8.50% of Wedbush Securities Inc’s portfolio.

Other Hedge Funds, Including , Cibc Asset Management Inc boosted its stake in GGP in the latest quarter, The investment management firm added 871 additional shares and now holds a total of 68,971 shares of General Growth Properties Inc which is valued at $2,143,619. General Growth Properties Inc makes up approx 0.02% of Cibc Asset Management Inc’s portfolio.Sumitomo Life Insurance Co reduced its stake in GGP by selling 2,121 shares or 3.4% in the most recent quarter. The Hedge Fund company now holds 60,292 shares of GGP which is valued at $1,872,670. General Growth Properties Inc makes up approx 0.25% of Sumitomo Life Insurance Co’s portfolio.

General Growth Properties Inc closed down -0.08 points or -0.26% at $30.98 with 26,32,737 shares getting traded on Monday. Post opening the session at $31.08, the shares hit an intraday low of $30.91 and an intraday high of $31.345 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, General Growth Properties Inc reported $0.35 EPS for the quarter, based on the information available during the earnings call on Aug 1, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $574.60 million for the quarter, compared to analysts expectations of $589.19 million. The company’s revenue was down -.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

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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