Gramercy Property Trust Inc. (GPT) Given Average Rating of “Buy” by Analysts
Shares of Gramercy Property Trust Inc. (NYSE:GPT) have been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the firm. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.55.
Several equities research analysts have recently issued reports on GPT shares. JMP Securities restated a “buy” rating on shares of Gramercy Property Trust in a report on Tuesday, September 13th. Mitsubishi UFJ Financial Group started coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price objective on the stock. Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Monday, August 15th. Finally, Compass Point raised their price objective on Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a report on Thursday, August 4th.
In related news, Director Thomas D. Eckert acquired 10,000 shares of the business’s stock in a transaction on Friday, September 16th. The shares were bought at an average cost of $9.27 per share, with a total value of $92,700.00. Following the completion of the transaction, the director now directly owns 89,225 shares of the company’s stock, valued at approximately $827,115.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin P. Harris sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $9.55, for a total value of $955,000.00. Following the completion of the transaction, the president now directly owns 394,141 shares in the company, valued at $3,764,046.55. The disclosure for this sale can be found here. 0.96% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPT. Mariner Wealth Advisors LLC raised its position in Gramercy Property Trust by 1.3% in the second quarter. Mariner Wealth Advisors LLC now owns 10,884 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 140 shares during the period. BB&T Securities LLC raised its position in Gramercy Property Trust by 0.5% in the first quarter. BB&T Securities LLC now owns 12,748 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 58 shares during the period. Sii Investments Inc. WI bought a new position in Gramercy Property Trust during the second quarter valued at approximately $109,000. Paragon Capital Management Ltd bought a new position in Gramercy Property Trust during the second quarter valued at approximately $110,000. Finally, Trutina Financial LLC bought a new position in Gramercy Property Trust during the second quarter valued at approximately $113,000. 82.83% of the stock is currently owned by institutional investors.
Gramercy Property Trust (NYSE:GPT) traded down 2.44% on Tuesday, hitting $8.79. The stock had a trading volume of 4,682,360 shares. The stock’s market cap is $3.71 billion. The company’s 50-day moving average is $9.45 and its 200-day moving average is $9.18. Gramercy Property Trust has a one year low of $6.50 and a one year high of $10.03.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. Gramercy Property Trust had a negative return on equity of 0.89% and a negative net margin of 3.93%. The business had revenue of $139.43 million for the quarter, compared to analysts’ expectations of $54.15 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue was up 157.7% on a year-over-year basis. On average, analysts anticipate that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, September 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is presently -293.31%.
Gramercy Property Trust Company Profile
Gramercy Property Trust, formerly Chambers Street Properties, is a real estate investment trust, which operates as 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 the Company’s activities related to the investment and ownership of commercial properties located throughout the United States and Europe.
Receive News & Stock Ratings for Gramercy Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust Inc. and related stocks with our FREE daily email newsletter.