Shares of Gramercy Property Trust (NYSE:GPT) have earned an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.67.
A number of equities research analysts have recently issued reports on GPT shares. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Gramercy Property Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 26th. TheStreet downgraded shares of Gramercy Property Trust from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Compass Point reiterated a “buy” rating and set a $34.00 price target (up from $30.00) on shares of Gramercy Property Trust in a research report on Monday, June 19th.
In related news, insider Nicholas L. Pell sold 11,350 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $29.53, for a total transaction of $335,165.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin P. Harris sold 5,000 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $29.68, for a total value of $148,400.00. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Gramercy Property Trust by 6.5% in the second quarter. Vanguard Group Inc. now owns 23,462,198 shares of the real estate investment trust’s stock valued at $697,062,000 after buying an additional 1,437,301 shares in the last quarter. BlackRock Inc. increased its position in shares of Gramercy Property Trust by 7.5% in the second quarter. BlackRock Inc. now owns 13,137,418 shares of the real estate investment trust’s stock valued at $390,312,000 after buying an additional 922,014 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Gramercy Property Trust by 389,160.0% in the second quarter. JPMorgan Chase & Co. now owns 4,764,543 shares of the real estate investment trust’s stock valued at $141,554,000 after buying an additional 4,763,319 shares in the last quarter. State Street Corp increased its position in shares of Gramercy Property Trust by 9.4% in the second quarter. State Street Corp now owns 3,895,312 shares of the real estate investment trust’s stock valued at $115,732,000 after buying an additional 334,865 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Gramercy Property Trust by 160.2% in the second quarter. Principal Financial Group Inc. now owns 3,539,442 shares of the real estate investment trust’s stock valued at $105,158,000 after buying an additional 2,178,912 shares in the last quarter. Hedge funds and other institutional investors own 87.02% of the company’s stock.
Gramercy Property Trust (NYSE:GPT) remained flat at $29.51 on Wednesday. The stock had a trading volume of 568,953 shares. The firm has a market capitalization of $4.48 billion, a P/E ratio of 281.05 and a beta of 0.58. Gramercy Property Trust has a 1-year low of $24.09 and a 1-year high of $31.19. The company has a 50-day moving average of $29.65 and a 200 day moving average of $28.45.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.02. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The company had revenue of $131.40 million for the quarter, compared to analyst estimates of $136.30 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. Gramercy Property Trust’s revenue was down 5.7% on a year-over-year basis. Analysts anticipate that Gramercy Property Trust will post ($0.11) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.08%. Gramercy Property Trust’s payout ratio is 1,666.85%.
About Gramercy Property Trust
Gramercy Property Trust is a real estate investment trust (REIT), which is an investor and asset manager of commercial real estate. The Company’s operating segments include Investments/Corporate and Asset Management. The Investments/Corporate segment includes all of its activities related to the investment and ownership of commercial properties located throughout the United States and Europe.
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