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General Growth (NYSE:GGP) Receives a Downgrade

In an analyst note released on 17 December, JP Morgan has decided to lowered rating on General Growth (NYSE:GGP) shares to a “Neutral”. GGP’s prior rating was a “Overweight”.

From a total of 17 analysts covering General Growth Properties (NYSE:GGP) stock, 14 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 82% of the ratings are positive. The highest target price is $40 while the lowest target price is $27. The mean of all analyst targets is $32.47 with a 25.75% above today’s ($26.84) stock price. General Growth Properties was the topic of 14 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Boenning & Scattergood initiated shares on December 4 with “Outperform” rating. Evercore maintained shares with “Buy” rating and $32 target share price in a report from a September 8. BMO Capital Markets upgraded GGP stock in a recent report from September 25 to “Outperform” rating. S&P Research maintained the rating on August 12. S&P Research has a “Buy” rating and a $33 price target on shares. Finally, Credit Suisse upgraded the stock to “Outperform” rating in a report issued on an August 20.

Approximately 1.24M shares of stock traded hands. General Growth Properties Inc (NYSE:GGP) has declined 4.49% since May 14, 2015 and is downtrending. It has underperformed by 2.22% the S&P500.

The overall sentiment of institutions has decreased to 0.89 in Q2 2015. Its down 0.06, from 0.95 in 2015Q2. The ratio dropped, as 25 institutions have sold all the shares of General Growth Properties Inc that they owned while 150 funds have taken shares off the table. 31 funds have purchased shares for the first time while 124 added to their positions. These institutions now hold 827.15 million shares or 1.51% more than the 814.83 million shares they owned in 2015Q2.

The Fund Brookfield Asset Management Inc. currently is holding shares equating to 48.2% of its total portfolio in General Growth Properties Inc representing a total of 299.50 million shares. Another fund,Resolution Capital Ltd, is holding a total of 3.91 million shares equating to 8.57% of their holdings. Additionally, Eii Capital Management Inc. has a 1.48 million share stake in General Growth Properties Inc which represents 6.25% of their total portfolio. The Fund, Starwood Real Estate Securities Llc, based out of Connecticut, has also built up a stake in the stock, which represents a total of 6.02% of their total portfolio. Finally Cbre Clarion Securities Llc, a fund which is based in the state of Pennsylvania reported a total holdings of 25.13 million shares.

General Growth Properties, Inc. is a self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $23.85 billion. The Firm is engaged in owning and operating retail properties to communities, retailers, employees, clients and shareholders. It has 18.59 P/E ratio. As of December 31, 2014, the Company owned, either entirely or with joint venture partners, 128 retail properties.

According to Zacks Investment Research, “General Growth Properties is one of the oldest and most experienced shopping center owners, developers and managers in the United States. It has ownership interests in, and management responsibilities for, a portfolio of regional shopping malls in numerous states. (Company Press Release)”

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