Gramercy Property Trust (GPT) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Gramercy Property Trust (NYSE:GPT) from a hold rating to a sell rating in a report released on Wednesday.

According to Zacks, “Chambers Street Properties is a real estate investment trust. It acquires, owns and operates commercial real estate such as warehouse, logistics properties and office buildings. The Company’s properties are situated primarily in the United States and Europe. Chambers Street Properties is headquartered in Princeton, New Jersey. “

Several other research firms have also recently commented on GPT. ValuEngine upgraded shares of Gramercy Property Trust from a hold rating to a buy rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services reiterated a buy rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. SunTrust Banks, Inc. set a $30.00 target price on shares of Gramercy Property Trust and gave the company a hold rating in a research note on Tuesday, October 31st. Stifel Nicolaus reiterated a buy rating and set a $31.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Finally, TheStreet cut shares of Gramercy Property Trust from a b- rating to a c rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Gramercy Property Trust has a consensus rating of Hold and an average target price of $31.25.

Shares of Gramercy Property Trust (NYSE:GPT) traded up $0.14 during trading on Wednesday, hitting $28.79. 782,413 shares of the stock were exchanged, compared to its average volume of 956,173. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.24 and a quick ratio of 0.24. Gramercy Property Trust has a twelve month low of $24.75 and a twelve month high of $31.26. The firm has a market capitalization of $4,620.00, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.99 and a beta of 0.56.

Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. The firm had revenue of $134.90 million during the quarter, compared to analyst estimates of $135.45 million. During the same quarter in the previous year, the firm posted $0.16 earnings per share. Gramercy Property Trust’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts anticipate that Gramercy Property Trust will post 2.07 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.21%. The ex-dividend date of this dividend is Thursday, December 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is presently 348.84%.

In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total value of $274,500.00. Following the sale, the president now owns 96,101 shares of the company’s stock, valued at approximately $2,931,080.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.96% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in shares of Gramercy Property Trust by 16.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 542 shares during the last quarter. Sii Investments Inc. WI bought a new stake in shares of Gramercy Property Trust in the 2nd quarter worth about $208,000. Jane Street Group LLC bought a new stake in shares of Gramercy Property Trust in the 3rd quarter worth about $214,000. Wittenberg Investment Management Inc. bought a new stake in shares of Gramercy Property Trust in the 2nd quarter worth about $213,000. Finally, Cetera Investment Advisers bought a new stake in shares of Gramercy Property Trust in the 2nd quarter worth about $215,000. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Gramercy Property Trust Company Profile

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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