Chart - you can draw at the chart
Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
GGP Inc.
Type
Public company
Traded as NYSE: GGP
S&P 500 Index component
Industry Real estate investment trusts
Founded 1954; 63 years ago (1954)
Founder Martin Bucksbaum
Matthew Bucksbaum
Headquarters Chicago, Illinois
Key people
Bruce Flatt, Chairman
Sandeep Mathrani, CEO
Revenue Increase $2.346 billion (2016)
Net income
Increase $1.272 billion (2016)
Total assets Decrease $22.732 billion (2016)
Total equity Increase $8.635 billion (2016)
Number of employees
1,800 (2016)
Website www.ggp.com

GGP Inc. (formerly General Growth Properties, Inc.) is a publicly-traded real estate investment trust that invests in shopping centers.

The company is headquartered at 110 North Wacker Drive in Chicago, Illinois, a historic building designed by architectural firm Graham, Anderson, Probst & White.

As of December 31, 2016, the company owned interests in 127 shopping centers in the United States comprising approximately 125 million square feet of gross leasable area. The company also owned a 35% interest in a shopping center in Rio de Janeiro, Brazil. In 2016, tenants at its shopping centers generated over $20 billion in sales.

Notable properties owned by the company include the following:

The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954 as General Management. That year, they borrowed $1.2 million to develop their first shopping center, Town & Country Shopping Center in Cedar Rapids, Iowa, in order to open a 4th location for the grocery store founded by their father.

By 1964, the company owned 5 malls and moved its headquarters to Des Moines, Iowa.

In 1970, General Management became General Growth Properties (GGP) and became a public company via an initial public offering.

In 1984, the company sold its holdings to Equitable Real Estate Investment Management for $800 million in the largest-ever single-asset real estate transaction to date, but retained the property management of the assets.

In 1989, the company acquired Center Companies, creating the fourth-largest shopping center management company in the United States.

In 1993, the company once again became a public company via an initial public offering, raising $400 million.

In 1994, the company purchased a 40% interest in Centermark Properties from Prudential Financial. In 1995, the company sold 25% of its 40% stake, yielding a profit of over $100 million. In 1995, the company also purchased the Homart Development Company from Sears for $1.85 billion.

In 1995, co-founder and CEO Martin Bucksbaum died and the company moved its headquarters from Des Moines to Chicago.

In 1999, John Buckbaum succeeded his father as CEO.

In 2004, the company acquired The Rouse Company, which owned 37 regional shopping malls and Howard Hughes Corporation, a land development company, for $7.2 billion in cash.

By 2008, the company had taken on $25 billion in debt and the company was facing required debt payments. John Bucksbaum was ousted as CEO, though he remained chairman of the board, and Adam Metz was named CEO.

In December 2008, hedge fund manager Bill Ackman disclosed a 25% ownership stake in the company.

In 2009, the company missed a deadline to repay $900 million in loans backed by two Las Vegas properties, putting the company in danger of filing for bankruptcy protection. At that point, the stock price was down 98% in 12 months. The Bucksbaum family's stake in the firm, which was worth $2.5 billion in 2005, had declined in value by a similar amount.

On April 16, 2009, the company filed one of the largest real estate bankruptcies ever and received $375 million in debtor-in-possession financing from Pershing Square Capital Management, the hedge fund managed by Bill Ackman.

In February 2010, Brookfield Asset Management made a $2.625 billion equity investment in the company.

In November 2010, the company exited bankruptcy protection. Creditors were paid in full and equity holders made a "substantial" recovery of their investment, both of which are unusual in bankruptcy filings. In conjunction with the reorganization, the company spun off Howard Hughes Corporation to its shareholders.

In December 2010, CEO Adam Metz and President and COO Thomas Nolan left the company and Sandeep Mathrani, formerly the head of the retail division of Vornado Realty Trust, was named CEO.

In 2011, the company sold Faneuil Hall for $140 million.

In January 2012, the company completed the spin off of The Rouse Company to its shareholders.

In 2013, co-founder Matthew Bucksbaum died.

In February 2014, Bill Ackman sold his remaining shares in the company back to the company for $556 million.

In April 2015, the company acquired the Crown Building for $1.78 billion.

In January 2017, the company changed its name to GGP Inc.

Investment goal date:
Dividends reinvested
GGP Inc. GGP report Q3 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q1 2018
2018-04-30
--
--
Q4 2017
2018-01-29
--
--
Q3 2017
2017-10-31
0.2300
0.2300
Q2 2017
2017-08-02
0.1300
0.1300
Q1 2017
2017-05-01
0.1100
0.1100
Q4 2016
2017-01-30
0.2400
0.2400
Q3 2016
2016-10-31
0.7000
0.7000
Q2 2016
2016-08-01
0.1900
0.1900
Q1 2016
2016-05-02
0.2000
0.2000
Q4 2015
2016-02-01
0.2000
0.2000
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
Bank of New York Mellon Corp
13099955
BlackRock Fund Advisors
17469089
BlackRock Inc.
53382888
BlackRock Institutional Trust Company, N.A.
21961063
BROOKFIELD ASSET MANAGEMENT INC.
255356037
CBRE CLARION SECURITIES LLC
18434451
DEUTSCHE BANK AG\
13875186
FMR LLC
25471343
Invesco Ltd.
15364748
MORGAN STANLEY
20801466
PGGM Investments
14742682
PRICE T ROWE ASSOCIATES INC /MD/
19660124
PRINCIPAL FINANCIAL GROUP INC
10282887
STATE STREET CORP
32901207
Vanguard Group, Inc
84148460
Major Shareholders
Name Relationship
Total Shares
Holding stocks