Gramercy Property Trust (NYSE:GPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “Chambers Street Properties is a real estate investment trust. It acquires, owns and operates commercial real estate such as warehouse, logistics properties and office buildings. The Company’s properties are situated primarily in the United States and Europe. Chambers Street Properties is headquartered in Princeton, New Jersey. “

Other analysts also recently issued research reports about the stock. Bank of America Corporation downgraded shares of Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price objective for the company. in a report on Wednesday, August 16th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. SunTrust Banks, Inc. set a $30.00 target price on shares of Gramercy Property Trust and gave the company a “hold” rating in a research report on Tuesday, October 31st. Finally, BidaskClub upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.25.

Gramercy Property Trust (NYSE GPT) traded down $0.25 during midday trading on Wednesday, reaching $28.65. 1,010,900 shares of the company’s stock were exchanged, compared to its average volume of 957,641. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $4,714.07, a P/E ratio of 14.60, a P/E/G ratio of 2.02 and a beta of 0.57. Gramercy Property Trust has a 52-week low of $24.75 and a 52-week high of $31.26.

Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $134.90 million during the quarter, compared to the consensus estimate of $135.45 million. Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. research analysts forecast that Gramercy Property Trust will post 2.07 earnings per share for the current fiscal year.

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In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total value of $274,500.00. Following the completion of the transaction, the president now directly owns 96,101 shares in the company, valued at approximately $2,931,080.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Gramercy Property Trust by 389,160.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,764,543 shares of the real estate investment trust’s stock valued at $141,554,000 after purchasing an additional 4,763,319 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Gramercy Property Trust by 4.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,069,749 shares of the real estate investment trust’s stock valued at $31,782,000 after purchasing an additional 48,313 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Gramercy Property Trust by 425.9% in the 2nd quarter. Prudential Financial Inc. now owns 868,760 shares of the real estate investment trust’s stock valued at $25,811,000 after purchasing an additional 703,579 shares during the last quarter. BT Investment Management Ltd bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at $4,020,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Gramercy Property Trust by 0.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 58,547 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 209 shares during the last quarter. 87.35% of the stock is currently owned by 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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Analyst Recommendations for Gramercy Property Trust (NYSE:GPT)

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