Gramercy Property Trust Inc. (GPT) Given Average Rating of “Buy” by Analysts
Gramercy Property Trust Inc. (NYSE:GPT) has been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $9.55.
GPT has been the topic of several research analyst reports. JMP Securities restated a “buy” rating on shares of Gramercy Property Trust in a report on Tuesday, September 13th. Mitsubishi UFJ Financial Group started coverage on shares of Gramercy Property Trust in a report on Tuesday, June 28th. They issued an “overweight” rating and a $10.50 price objective for the company. Zacks Investment Research upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, August 15th. Finally, Compass Point upped their price objective on shares of Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a report on Thursday, August 4th.
Shares of Gramercy Property Trust (NYSE:GPT) traded down 2.44% during mid-day trading on Tuesday, reaching $8.79. The company had a trading volume of 4,682,360 shares. The company’s market capitalization is $3.71 billion. Gramercy Property Trust has a 52-week low of $6.50 and a 52-week high of $10.03. The company’s 50-day moving average price is $9.45 and its 200-day moving average price is $9.18.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/gramercy-property-trust-inc-gpt-given-average-rating-of-buy-by-analysts.html
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Gramercy Property Trust had a negative net margin of 3.93% and a negative return on equity of 0.89%. The business had revenue of $139.43 million for the quarter, compared to analysts’ expectations of $54.15 million. During the same period in the previous year, the company posted $0.13 EPS. Gramercy Property Trust’s revenue was up 157.7% on a year-over-year basis. On average, analysts forecast that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, September 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is -293.31%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $9.55, for a total transaction of $955,000.00. Following the completion of the sale, the president now directly owns 394,141 shares in the company, valued at $3,764,046.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas D. Eckert purchased 10,000 shares of the firm’s stock in a transaction on Friday, September 16th. The shares were purchased at an average price of $9.27 per share, with a total value of $92,700.00. Following the completion of the acquisition, the director now directly owns 89,225 shares of the company’s stock, valued at $827,115.75. The disclosure for this purchase can be found here. Company insiders own 0.96% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. BB&T Securities LLC boosted its stake in Gramercy Property Trust by 0.5% in the first quarter. BB&T Securities LLC now owns 12,748 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 58 shares during the period. BlackRock Japan Co. Ltd raised its position in shares of Gramercy Property Trust by 0.4% in the first quarter. BlackRock Japan Co. Ltd now owns 22,224 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 94 shares in the last quarter. Mariner Wealth Advisors LLC raised its position in shares of Gramercy Property Trust by 1.3% in the second quarter. Mariner Wealth Advisors LLC now owns 10,884 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 140 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Gramercy Property Trust by 0.6% in the second quarter. ProShare Advisors LLC now owns 51,688 shares of the real estate investment trust’s stock worth $477,000 after buying an additional 326 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Gramercy Property Trust by 4.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,321 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 600 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.
Gramercy Property Trust Company Profile
Gramercy Property Trust, formerly Chambers Street Properties, is a real estate investment trust, which operates as 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 the Company’s activities related to the investment and ownership of commercial properties located throughout the United States and Europe.
Receive News & Ratings for Gramercy Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.