GGP Inc. was a big mover last session, as the company saw its shares rise more than 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $19.01 to $22.20 in the past one-month time frame.
The move came after the company confirmed that Brookfield Property Partners will buy all its remaining shares.
The company has seen three negative estimate revisions in the past one month, while its Zacks Consensus Estimate has also moved lower over the said time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
GGP Inc. currently has a Zacks Rank #3 (Hold), while its Earnings ESP is positive.
A better-ranked stock in the REIT and Equity Trust - Retail industry is Cedar Realty Trust, Inc. (CDR - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Is GGP going up? Or down? Predict to see what others think: Up or Down
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>