Gramercy Property Trust Inc. (GPT) Stock Rating Lowered by TheStreet
Gramercy Property Trust Inc. (NYSE:GPT) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a report issued on Tuesday.
A number of other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. JMP Securities reissued a “buy” rating on shares of Gramercy Property Trust in a report on Tuesday, September 13th. Compass Point increased their price target on Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Mitsubishi UFJ Financial Group initiated coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They issued an “overweight” rating and a $10.50 price target for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $9.96.
Gramercy Property Trust (NYSE:GPT) traded up 1.94% on Tuesday, reaching $8.93. The company’s stock had a trading volume of 2,350,380 shares. The company’s market capitalization is $3.77 billion. The firm’s 50 day moving average price is $9.41 and its 200-day moving average price is $9.18. Gramercy Property Trust has a 52 week low of $6.50 and a 52 week high of $10.03.
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Gramercy Property Trust (NYSE:GPT) last posted its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Gramercy Property Trust had a negative return on equity of 0.89% and a negative net margin of 3.93%. The business earned $139.43 million during the quarter, compared to analyst estimates of $54.15 million. During the same quarter last year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was up 157.7% compared to the same quarter last year. On average, equities analysts predict that Gramercy Property Trust will post ($0.11) EPS for the current year.
The company also recently announced 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 4.93%. The ex-dividend date of this dividend is Wednesday, September 28th. Gramercy Property Trust’s dividend payout ratio is presently -293.31%.
In related news, Director Thomas D. Eckert purchased 10,000 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were acquired at an average cost of $9.27 per share, for a total transaction of $92,700.00. Following the transaction, the director now owns 89,225 shares of the company’s stock, valued at $827,115.75. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Benjamin P. Harris sold 100,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $9.55, for a total value of $955,000.00. Following the sale, the president now owns 394,141 shares in the company, valued at $3,764,046.55. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Mariner Wealth Advisors LLC boosted its stake 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 during the last quarter. BB&T Securities LLC boosted its stake in shares of 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 last quarter. Sii Investments Inc. WI bought a new stake in shares of Gramercy Property Trust during the second quarter worth $109,000. Paragon Capital Management Ltd bought a new stake in shares of Gramercy Property Trust during the second quarter worth $110,000. Finally, Trutina Financial LLC bought a new stake in shares of Gramercy Property Trust during the second quarter worth $113,000. Institutional investors and hedge funds 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.
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