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

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. “

A number of other brokerages have also commented on GPT. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, November 1st. SunTrust Banks set a $30.00 price target on shares of Gramercy Property Trust and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, ValuEngine raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.25.

Shares of Gramercy Property Trust (NYSE GPT) traded up $0.14 on Tuesday, hitting $26.87. 1,640,663 shares of the stock were exchanged, compared to its average volume of 1,086,700. The firm has a market capitalization of $4,340.00, a price-to-earnings ratio of 62.49, a P/E/G ratio of 1.79 and a beta of 0.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.24 and a quick ratio of 0.24. Gramercy Property Trust has a 1-year low of $25.21 and a 1-year high of $31.26.

Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The company had revenue of $134.90 million for the quarter, compared to analyst estimates of $135.45 million. Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. equities research analysts predict that Gramercy Property Trust will post 2.05 earnings per share for the current year.

In related news, President Benjamin P. Harris sold 6,371 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $26.73, for a total value of $170,296.83. Following the completion of the transaction, the president now owns 89,730 shares of the company’s stock, valued at $2,398,482.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Securities Inc grew its stake in shares of Gramercy Property Trust by 715,606.0% during the fourth quarter. MetLife Securities Inc now owns 357,853 shares of the real estate investment trust’s stock valued at $2,763,000 after purchasing an additional 357,803 shares during the last quarter. IndexIQ Advisors LLC grew its stake in shares of Gramercy Property Trust by 474.0% during the fourth quarter. IndexIQ Advisors LLC now owns 442,901 shares of the real estate investment trust’s stock valued at $3,419,000 after purchasing an additional 365,734 shares during the last quarter. Sei Investments Co. grew its stake in shares of Gramercy Property Trust by 9.3% during the third quarter. Sei Investments Co. now owns 1,837,767 shares of the real estate investment trust’s stock valued at $17,716,000 after purchasing an additional 156,500 shares during the last quarter. Denver Investment Advisors LLC grew its stake in shares of Gramercy Property Trust by 194.0% during the fourth quarter. Denver Investment Advisors LLC now owns 2,513,844 shares of the real estate investment trust’s stock valued at $19,408,000 after purchasing an additional 1,658,715 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Gramercy Property Trust by 1,117.4% in the fourth quarter. California Public Employees Retirement System now owns 840,934 shares of the real estate investment trust’s stock valued at $6,492,000 after acquiring an additional 771,859 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Downgrades Gramercy Property Trust (GPT) to Sell” was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/09/zacks-investment-research-downgrades-gramercy-property-trust-gpt-to-sell.html.

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.

Get a free copy of the Zacks research report on Gramercy Property Trust (GPT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Gramercy Property Trust (NYSE:GPT)

Receive News & Ratings for Gramercy Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.