JMP Securities Downgrades Gramercy Property Trust (GPT) to Market Perform
Gramercy Property Trust (NYSE:GPT) was downgraded by equities research analysts at JMP Securities from a “market outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a research note on Monday, March 27th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, May 3rd. TheStreet downgraded Gramercy Property Trust from a “b-” rating to a “c+” rating in a research note on Friday, March 31st. BidaskClub raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Compass Point reaffirmed a “buy” rating and set a $34.00 target price (up from $30.00) on shares of Gramercy Property Trust in a research note on Monday, June 19th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.33.
Shares of Gramercy Property Trust (NYSE GPT) opened at 30.03 on Monday. The company has a market cap of $4.56 billion, a PE ratio of 118.23 and a beta of 0.58. Gramercy Property Trust has a 52-week low of $24.09 and a 52-week high of $31.19. The stock’s 50 day moving average is $30.12 and its 200 day moving average is $28.01.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Gramercy Property Trust had a return on equity of 1.59% and a net margin of 8.24%. The business had revenue of $129.99 million for the quarter, compared to analyst estimates of $126.88 million. Equities analysts forecast that Gramercy Property Trust will post ($0.11) EPS for the current year.
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In related news, President Benjamin P. Harris sold 5,000 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $29.68, for a total value of $148,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicholas L. Pell sold 11,350 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $29.53, for a total value of $335,165.50. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Utah Retirement Systems increased its position in Gramercy Property Trust by 1.0% in the third quarter. Utah Retirement Systems now owns 10,400 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 100 shares in the last quarter. IFC Holdings Incorporated FL increased its position in Gramercy Property Trust by 4.2% in the third quarter. IFC Holdings Incorporated FL now owns 10,497 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 424 shares in the last quarter. BB&T Securities LLC increased its position 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 valued at $107,000 after buying an additional 58 shares in the last quarter. Sii Investments Inc. WI purchased a new position in Gramercy Property Trust during the second quarter valued at approximately $109,000. Finally, Paragon Capital Management Ltd purchased a new position in Gramercy Property Trust during the second quarter valued at approximately $110,000. 81.62% of the stock is owned by hedge funds and other institutional investors.
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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