Gramercy Property Trust Sees Significant Growth in Short Interest (GPT)
Gramercy Property Trust (NYSE:GPT) was the target of a large growth in short interest in June. As of June 13th, there was short interest totalling 11,281,164 shares, a growth of 42.8% from the May 30th total of 7,902,043 shares, Analyst Ratings Net reports. Based on an average trading volume of 1,461,353 shares, the days-to-cover ratio is currently 7.7 days. Currently, 10.3% of the company’s stock are sold short.
GPT has been the subject of a number of recent research reports. Analysts at TheStreet upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 13th. Separately, analysts at Ladenburg Thalmann raised their price target on shares of Gramercy Property Trust to $7.50 in a research note on Monday, June 2nd. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Gramercy Property Trust to a “neutral” rating in a research note on Thursday, May 29th. They now have a $6.10 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Gramercy Property Trust has a consensus rating of “Buy” and a consensus price target of $6.84.
Gramercy Property Trust (NYSE:GPT) opened at 6.25 on Monday. Gramercy Property Trust has a 52 week low of $3.96 and a 52 week high of $6.28. The stock has a 50-day moving average of $5.87 and a 200-day moving average of $5.62. The company’s market cap is $446.3 million.
Gramercy Property Trust (NYSE:GPT) last announced its earnings results on Thursday, May 8th. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $0.04. The company had revenue of $15.58 million for the quarter, compared to the consensus estimate of $16.30 million. On average, analysts predict that Gramercy Property Trust will post $0.02 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, June 26th.
Gramercy Property Trust Inc, formerly Gramercy Capital Corp., is an integrated, self-managed real estate investment and asset management company.
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