Gramercy Property Trust (GPT) Receives Average Recommendation of “Hold” from Brokerages
Shares of Gramercy Property Trust (NYSE:GPT) have received a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $31.67.
GPT has been the topic of several recent research reports. TheStreet upgraded Gramercy Property Trust from a “c+” rating to a “b-” rating in a report on Monday, June 12th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, August 2nd. Compass Point restated a “buy” rating and set a $34.00 target price (up from $30.00) on shares of Gramercy Property Trust in a report on Monday, June 19th. ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th.
In other news, President Benjamin P. Harris sold 9,000 shares of Gramercy Property Trust stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total value of $274,500.00. Following the transaction, the president now directly owns 96,101 shares in the company, valued at $2,931,080.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas L. Pell sold 11,350 shares of Gramercy Property Trust stock in a transaction dated Friday, June 30th. The stock was 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. Over the last 90 days, insiders have sold 25,350 shares of company stock worth $758,066. Corporate insiders own 0.96% of the company’s stock.
Several institutional investors have recently bought and sold shares of GPT. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Gramercy Property Trust in the first quarter worth about $3,621,000. Karp Capital Management Corp bought a new position in shares of Gramercy Property Trust in the first quarter worth about $256,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Gramercy Property Trust in the first quarter worth about $357,000. Ameritas Investment Partners Inc. bought a new position in shares of Gramercy Property Trust in the first quarter worth about $313,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Gramercy Property Trust in the first quarter worth about $920,000. Institutional investors and hedge funds own 93.46% of the company’s stock.
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Gramercy Property Trust (GPT) opened at 30.92 on Friday. The firm has a market cap of $4.70 billion, a P/E ratio of 294.48 and a beta of 0.58. Gramercy Property Trust has a one year low of $24.09 and a one year high of $31.19. The company has a 50-day moving average of $29.82 and a 200 day moving average of $28.75.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The firm had revenue of $131.40 million for the quarter, compared to analyst estimates of $136.30 million. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. Gramercy Property Trust’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.18 EPS. Equities research analysts expect that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.375 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.50 annualized dividend and a yield of 4.85%. Gramercy Property Trust’s dividend payout ratio (DPR) is currently 1,666.85%.
About Gramercy Property Trust
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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