Gramercy Property Trust Inc. (GPT) Director Charles E. Black Buys 97,774 Shares
Gramercy Property Trust Inc. (NYSE:GPT) Director Charles E. Black bought 97,774 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average price of $8.51 per share, for a total transaction of $832,056.74. Following the completion of the acquisition, the director now directly owns 203,545 shares in the company, valued at $1,732,167.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Gramercy Property Trust Inc. (NYSE:GPT) traded up 4.16% during mid-day trading on Tuesday, reaching $8.76. The company had a trading volume of 2,626,497 shares. The firm’s 50-day moving average price is $8.91 and its 200-day moving average price is $9.26. Gramercy Property Trust Inc. has a 12 month low of $6.50 and a 12 month high of $10.03. The stock’s market cap is $3.70 billion.
Gramercy Property Trust (NYSE:GPT) last issued its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company earned $131.10 million during the quarter, compared to analysts’ expectations of $62.92 million. Gramercy Property Trust had a negative net margin of 4.93% and a negative return on equity of 1.04%. The business’s revenue for the quarter was up 101.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. Equities research analysts forecast that Gramercy Property Trust Inc. will post ($0.11) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a dividend of $0.125 per share. This is a boost from Gramercy Property Trust’s previous quarterly dividend of $0.11. The ex-dividend date is Wednesday, December 28th. This represents a $0.50 annualized dividend and a dividend yield of 5.71%. Gramercy Property Trust’s payout ratio is presently -231.58%.
GPT has been the subject of several recent analyst reports. Compass Point raised their target price on Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a research report on Thursday, August 4th. Zacks Investment Research raised Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, August 15th. JMP Securities reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research report on Tuesday, September 13th. Finally, TheStreet cut Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $9.96.
Several hedge funds have recently modified their holdings of GPT. Heitman Real Estate Securities LLC boosted its stake in shares of 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 valued at $64,610,000 after buying an additional 4,845,916 shares during the last quarter. Hilton Capital Management LLC boosted its stake in shares of Gramercy Property Trust by 6.6% in the second quarter. Hilton Capital Management LLC now owns 1,610,697 shares of the real estate investment trust’s stock valued at $14,851,000 after buying an additional 100,394 shares during the last quarter. MSI Financial Services Inc boosted its stake in shares of Gramercy Property Trust by 7.6% in the second quarter. MSI Financial Services Inc now owns 361,127 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 25,540 shares during the last quarter. Trutina Financial LLC acquired a new stake in shares of Gramercy Property Trust during the second quarter valued at approximately $113,000. Finally, First Trust Advisors LP boosted its stake in shares of Gramercy Property Trust by 75.3% in the second quarter. First Trust Advisors LP now owns 279,315 shares of the real estate investment trust’s stock valued at $2,575,000 after buying an additional 120,008 shares during the last quarter. Institutional investors own 83.94% of the company’s stock.
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About Gramercy Property Trust
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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