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Brookfield Property Partners offers to buy rest of mall owner GGP

14 November 2017
Brookfield Property Partners offers to buy rest of mall owner GGP

GGP Inc. said Monday that it received an unsolicited proposal from Brookfield Property Partners LP on Saturday.

On October 2 Canaccord Genuity made no change to the company rating of "Buy" targeting a price of $28.00. Renaissance Technologies LLC now owns 445,398 shares of the financial services provider's stock valued at $9,924,000 after purchasing an additional 153,156 shares in the last quarter. Bank of New York Mellon Corp now owns 44,995 shares of the utilities provider's stock valued at $1,841,000 after buying an additional 10,296 shares during the last quarter. The stock saw a rise in short interest from October 13, 2017 to October 31, 2017 of 13.48%. Private Advisor Group LLC grew its stake in shares of Brookfield Infrastructure Partners by 38.6% during the second quarter. Principal Financial Group Inc. now owns 8,751,437 shares of the utilities provider's stock worth $377,532,000 after acquiring an additional 437,693 shares during the period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Brookfield Property Partners L.P.by 52.4% in the 1st quarter.

GGP has PE ratio of 17.76 with a one year low of $20.31 and a one year high of $27.10 and has a market capitalization of $0. Finally, TD Securities upped their target price on Brookfield Infrastructure Partners from $42.00 to $44.00 and gave the stock a "buy" rating in a report on Tuesday, August 8th. Brookfield Infrastructure Partners makes up about 2.9% of Lucas Capital Management's holdings, making the stock its 9th biggest position.

TRADEMARK VIOLATION NOTICE: This news story was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. Finally, Scotiabank increased their target price on shares of Brookfield Property Partners L.P. from $25.25 to $25.50 and gave the stock an "outperform" rating in a research report on Monday, November 6th. 83,500 shares of the company were exchanged, compared to its average volume of 135,066.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. The ex-dividend date of this dividend is Wednesday, November 29th. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued. This represents a $1.74 annualized dividend and a dividend yield of 4.01%. If you are accessing this article on another site, it was illegally stolen and republished in violation of USA & global trademark & copyright legislation.

The Canadian property owner announced on Monday an unsolicited $14.8-billion (U.S.) cash-and-stock bid to buy the rest of USA retail real estate company GGP Inc.it does not own - an acquisition that would give Brookfield "an ownership interest in nearly $100-billion of premier real estate assets globally", the company said.

Brookfield Infrastructure Partners L.P. owns and operates utilities, transport, energy and communications infrastructure businesses in North and South America, Europe and Asia Pacific.

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities.

Brookfield Property, which is part of Brookfield Asset Management, owns or operates office properties, retail centers and multifamily housing units.