Gramercy Property Trust Inc. (GPT) Director Purchases $436,000.00 in Stock
Gramercy Property Trust Inc. (NYSE:GPT) Director Thomas D. Eckert purchased 50,000 shares of the stock in a transaction dated Wednesday, November 9th. The shares were purchased at an average price of $8.72 per share, with a total value of $436,000.00. Following the completion of the acquisition, the director now owns 109,225 shares of the company’s stock, valued at $952,442. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
Gramercy Property Trust Inc. (NYSE:GPT) opened at 8.53 on Tuesday. The firm’s 50-day moving average is $9.09 and its 200-day moving average is $9.27. Gramercy Property Trust Inc. has a 12 month low of $6.50 and a 12 month high of $10.03. The firm’s market capitalization is $3.60 billion.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.18. Gramercy Property Trust had a negative net margin of 4.93% and a negative return on equity of 1.04%. The company earned $131.10 million during the quarter, compared to the consensus estimate of $62.92 million. During the same period in the prior year, the company earned $0.14 EPS. Gramercy Property Trust’s revenue was up 101.1% on a year-over-year basis. On average, equities research analysts expect that Gramercy Property Trust Inc. will post ($0.11) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 5.86%. This is an increase from Gramercy Property Trust’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, December 28th. Gramercy Property Trust’s dividend payout ratio is presently -231.58%.
A number of large investors have recently modified their holdings of the stock. Capital Growth Management LP acquired a new stake in shares of Gramercy Property Trust during the second quarter worth $48,682,000. Heitman Real Estate Securities LLC raised its stake in Gramercy Property Trust by 173.1% in the first quarter. Heitman Real Estate Securities LLC now owns 7,646,132 shares of the real estate investment trust’s stock worth $64,610,000 after buying an additional 4,845,916 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Gramercy Property Trust by 71.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,745,044 shares of the real estate investment trust’s stock worth $99,069,000 after buying an additional 4,492,960 shares in the last quarter. BlackRock Fund Advisors raised its stake in Gramercy Property Trust by 31.1% in the third quarter. BlackRock Fund Advisors now owns 13,613,537 shares of the real estate investment trust’s stock worth $131,234,000 after buying an additional 3,227,467 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Gramercy Property Trust by 75.2% in the third quarter. Schroder Investment Management Group now owns 6,620,720 shares of the real estate investment trust’s stock worth $63,824,000 after buying an additional 2,840,720 shares in the last quarter. 84.20% of the stock is owned by institutional investors.
A number of brokerages have recently commented on GPT. Zacks Investment Research downgraded shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Compass Point lifted their price target on shares of Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a report on Thursday, August 4th. JMP Securities lifted their price target on shares of Gramercy Property Trust from $9.50 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, August 4th. Finally, TheStreet downgraded shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, October 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $9.96.
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. Its 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.
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