Analysts Offer Predictions for Gramercy Property Trust Inc.’s Q1 2017 Earnings (GPT)
Gramercy Property Trust Inc. (NYSE:GPT) – Equities researchers at SunTrust Banks issued their Q1 2017 EPS estimates for Gramercy Property Trust in a report issued on Monday. SunTrust Banks analyst K. Kim forecasts that the firm will earn $0.17 per share for the quarter. SunTrust Banks also issued estimates for Gramercy Property Trust’s Q2 2017 earnings at $0.18 EPS, Q3 2017 earnings at $0.19 EPS and Q4 2017 earnings at $0.19 EPS.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business earned $139.43 million during the quarter, compared to analyst estimates of $54.15 million. Gramercy Property Trust had a negative return on equity of 0.89% and a negative net margin of 3.93%. Gramercy Property Trust’s quarterly revenue was up 157.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 EPS.
GPT has been the subject of a number of other research reports. JMP Securities restated a “buy” rating on shares of Gramercy Property Trust in a research report on Tuesday, September 13th. Mitsubishi UFJ Financial Group initiated coverage on Gramercy Property Trust in a research report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price objective for the company. Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, August 15th. Finally, Compass Point raised their price objective on Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a research report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Gramercy Property Trust currently has an average rating of “Buy” and a consensus target price of $9.96.
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Gramercy Property Trust (NYSE:GPT) traded up 1.655% on Wednesday, reaching $8.905. The company’s stock had a trading volume of 895,464 shares. The firm has a 50-day moving average of $9.43 and a 200-day moving average of $9.18. Gramercy Property Trust has a one year low of $6.50 and a one year high of $10.03. The company’s market capitalization is $3.76 billion.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.44 annualized dividend and a yield of 5.02%. Gramercy Property Trust’s dividend payout ratio is currently -293.31%.
In other news, Director Thomas D. Eckert acquired 10,000 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was acquired at an average price of $9.27 per share, with a total value of $92,700.00. Following the completion of the purchase, the director now directly owns 89,225 shares in the company, valued at $827,115.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin P. Harris sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was 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 of the company’s stock, valued at approximately $3,764,046.55. The disclosure for this sale can be found here. 0.96% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Heitman Real Estate Securities LLC increased its stake in shares of Gramercy Property Trust by 173.1% in the first quarter. Heitman Real Estate Securities LLC now owns 7,646,132 shares of the real estate investment trust’s stock valued at $64,610,000 after buying an additional 4,845,916 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Gramercy Property Trust by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 2,234,540 shares of the real estate investment trust’s stock valued at $18,882,000 after buying an additional 50,050 shares during the last quarter. Hilton Capital Management LLC increased its stake in shares of Gramercy Property Trust by 6.6% in the second quarter. Hilton Capital Management LLC now owns 1,610,697 shares of the real estate investment trust’s stock valued at $14,851,000 after buying an additional 100,394 shares during the last quarter. MSI Financial Services Inc increased its stake in shares of Gramercy Property Trust by 7.6% in the second quarter. MSI Financial Services Inc now owns 361,127 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 25,540 shares during the last quarter. Finally, Trutina Financial LLC purchased a new stake in shares of Gramercy Property Trust during the second quarter valued at about $113,000. 82.83% of the stock is owned by institutional investors and hedge funds.
About Gramercy Property Trust
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.
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