Governors Lane Lp adds General Growth Properties Inc (GGP) to its portfolio

General Growth Properties Inc (GGP) : Governors Lane Lp added new position in General Growth Properties Inc during the most recent quarter end. The investment management firm now holds 660,000 shares of General Growth Properties Inc which is valued at $19,767,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.General Growth Properties Inc makes up approximately 2.94% of Governors Lane Lp’s portfolio.

Other Hedge Funds, Including , Castle Ridge Investment Management Lp boosted its stake in GGP in the latest quarter, The investment management firm added 188,000 additional shares and now holds a total of 321,468 shares of General Growth Properties Inc which is valued at $9,627,967. General Growth Properties Inc makes up approx 5.40% of Castle Ridge Investment Management Lp’s portfolio.Nuveen Asset Management reduced its stake in GGP by selling 945,465 shares or 19.11% in the most recent quarter. The Hedge Fund company now holds 4,002,237 shares of GGP which is valued at $119,866,998. General Growth Properties Inc makes up approx 0.72% of Nuveen Asset Management’s portfolio.State Of Tennessee Treasury Department boosted its stake in GGP in the latest quarter, The investment management firm added 550,331 additional shares and now holds a total of 639,013 shares of General Growth Properties Inc which is valued at $19,138,439. General Growth Properties Inc makes up approx 0.09% of State Of Tennessee Treasury Department’s portfolio.Apg Asset Management N.v. reduced its stake in GGP by selling 307,334 shares or 56.59% in the most recent quarter. The Hedge Fund company now holds 235,725 shares of GGP which is valued at $7,059,964. General Growth Properties Inc makes up approx 0.01% of Apg Asset Management N.v.’s portfolio.Ameritas Investment Partners boosted its stake in GGP in the latest quarter, The investment management firm added 556 additional shares and now holds a total of 11,524 shares of General Growth Properties Inc which is valued at $345,144. General Growth Properties Inc makes up approx 0.02% of Ameritas Investment Partners’s portfolio.

General Growth Properties Inc closed down -0.14 points or -0.48% at $29 with 33,06,454 shares getting traded on Thursday. Post opening the session at $29.12, the shares hit an intraday low of $28.88 and an intraday high of $29.23 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.

Investors should note that on Aug 1, 2016, General Growth Properties Inc announced a cash dividend of $0.2000. The company’s management has announced Oct 12, 2016 as the ex-dividend date and fixed the record date on Oct 14, 2016. The payable date has been fixed on Oct 31, 2016.

Many Wall Street Analysts have commented on General Growth Properties Inc. General Growth Properties Inc was Initiated by Hilliard Lyons to “Neutral” on Aug 31, 2016.

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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