Gramercy Property Trust (GPT) Set to Announce Quarterly Earnings on Tuesday
Gramercy Property Trust (NYSE:GPT) is scheduled to announce its earnings results after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.54 per share for the quarter. Gramercy Property Trust has set its FY17 guidance at $2.05-2.10 EPS.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $131.40 million for the quarter, compared to analysts’ expectations of $136.30 million. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, analysts expect Gramercy Property Trust to post $2.08 EPS for the current fiscal year and $2.2 EPS for the next fiscal year.
Shares of Gramercy Property Trust (NYSE:GPT) traded down 0.43% during trading on Tuesday, hitting $30.37. The stock had a trading volume of 282,228 shares. The company’s 50 day moving average price is $30.58 and its 200 day moving average price is $29.60. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $31.26. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 289.24 and a beta of 0.58.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.92%. The ex-dividend date was Thursday, September 28th. Gramercy Property Trust’s payout ratio is 1,666.85%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the company’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 sale, the president now owns 96,101 shares in the company, valued at approximately $2,931,080.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.36% of the stock is owned by corporate insiders.
GPT has been the topic of several research reports. Zacks Investment Research lowered Gramercy Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. BidaskClub lowered Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $31.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Gramercy Property Trust has an average rating of “Hold” and a consensus target price of $31.67.
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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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