Gramercy Property Trust (GPT) Receives Average Recommendation of “Hold” from Brokerages
Gramercy Property Trust (NYSE:GPT) has earned an average rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $31.67.
A number of equities research analysts have weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $31.00 price target on shares of Gramercy Property Trust in a research report on Tuesday, August 22nd. BidaskClub downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. JMP Securities downgraded Gramercy Property Trust from a “market outperform” rating to a “market perform” rating in a research report on Monday, July 17th. Bank of America Corporation downgraded Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Wednesday, August 16th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a research report on Friday, September 1st.
Shares of Gramercy Property Trust (GPT) opened at 30.68 on Thursday. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 292.19 and a beta of 0.58. The company’s 50-day moving average price is $30.35 and its 200-day moving average price is $29.31. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $31.22.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.02). Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The firm had revenue of $131.40 million for the quarter, compared to analysts’ expectations of $136.30 million. During the same quarter in the previous year, the business earned $0.18 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. Analysts anticipate that Gramercy Property Trust will post ($0.11) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 4.89%. Gramercy Property Trust’s payout ratio is 1,666.85%.
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In other news, President Benjamin P. Harris sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total transaction of $274,500.00. Following the transaction, the president now directly owns 96,101 shares of the company’s stock, valued at $2,931,080.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.96% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in GPT. Penserra Capital Management LLC grew its stake in shares of Gramercy Property Trust by 16.1% during the second quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 542 shares during the last quarter. Sii Investments Inc. WI bought a new position in shares of Gramercy Property Trust during the second quarter valued at about $208,000. Wittenberg Investment Management Inc. bought a new position in shares of Gramercy Property Trust during the second quarter valued at about $213,000. Cetera Investment Advisers bought a new position in shares of Gramercy Property Trust during the second quarter valued at about $215,000. Finally, GW&K Investment Management LLC bought a new position in shares of Gramercy Property Trust during the second quarter valued at about $218,000. 87.09% of the stock is currently owned by hedge funds and other institutional investors.
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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