Zacks Investment Research Upgrades Gramercy Property Trust (GPT) to “Hold”

Gramercy Property Trust (NYSE:GPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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 research firms have also weighed in on GPT. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, November 1st. SunTrust Banks set a $30.00 target price on Gramercy Property Trust and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, four have assigned 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 a consensus price target of $30.75.

Gramercy Property Trust (NYSE GPT) traded down $0.35 during trading hours on Tuesday, reaching $23.37. 2,412,655 shares of the company were exchanged, compared to its average volume of 1,210,000. Gramercy Property Trust has a 1 year low of $23.08 and a 1 year high of $31.26. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $3,750.00, a price-to-earnings ratio of 54.35, a price-to-earnings-growth ratio of 1.65 and a beta of 0.45.

In other Gramercy Property Trust news, President Benjamin P. Harris sold 6,371 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $26.73, for a total value of $170,296.83. Following the completion of the sale, the president now owns 89,730 shares of the company’s stock, valued at $2,398,482.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.36% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in Gramercy Property Trust by 8.4% in the fourth quarter. US Bancorp DE now owns 29,749 shares of the real estate investment trust’s stock valued at $793,000 after acquiring an additional 2,296 shares during the period. Quantitative Systematic Strategies LLC raised its stake in shares of Gramercy Property Trust by 149.8% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 40,544 shares of the real estate investment trust’s stock worth $1,081,000 after buying an additional 24,311 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Gramercy Property Trust by 23.4% during the 4th quarter. Moody Aldrich Partners LLC now owns 84,191 shares of the real estate investment trust’s stock worth $2,245,000 after buying an additional 15,988 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gramercy Property Trust by 19.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,537 shares of the real estate investment trust’s stock worth $361,000 after buying an additional 2,236 shares during the last quarter. Finally, Mesirow Financial Investment Management Equity Management acquired a new position in shares of Gramercy Property Trust during the 4th quarter worth $1,577,000. 92.19% of the stock is owned by institutional investors.

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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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