BidaskClub downgraded shares of Gramercy Property Trust (NYSE:GPT) from a buy rating to a hold rating in a research note published on Monday.

GPT has been the topic of several other reports. ValuEngine upgraded shares of Gramercy Property Trust from a hold rating to a buy rating in a research report on Friday, June 2nd. Ladenburg Thalmann Financial Services reiterated a buy rating on shares of Gramercy Property Trust in a research report on Wednesday, May 3rd. JMP Securities cut shares of Gramercy Property Trust from a market outperform rating to a market perform rating in a research report on Monday, July 17th. Compass Point reiterated a buy rating and issued a $34.00 price target (up from $30.00) on shares of Gramercy Property Trust in a research report on Monday, June 19th. Finally, Zacks Investment Research upgraded shares of Gramercy Property Trust from a sell rating to a hold rating in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $33.50.

Shares of Gramercy Property Trust (GPT) traded down 1.1089% during midday trading on Monday, reaching $29.4201. 120,167 shares of the company were exchanged. Gramercy Property Trust has a 52-week low of $24.09 and a 52-week high of $31.19. The company has a market capitalization of $4.47 billion, a PE ratio of 280.1914 and a beta of 0.58. The firm’s 50 day moving average is $29.81 and its 200-day moving average is $28.30.

Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by $0.02. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. The business had revenue of $131.40 million during the quarter, compared to the consensus estimate of $136.30 million. During the same quarter last year, the firm posted $0.18 earnings per share. Gramercy Property Trust’s revenue was down 5.7% compared to the same quarter last year. On average, equities analysts forecast that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 annualized dividend and a yield of 5.04%. Gramercy Property Trust’s payout ratio is presently 1,666.85%.

In other Gramercy Property Trust news, President Benjamin P. Harris sold 5,000 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $29.68, for a total transaction of $148,400.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas L. Pell sold 11,350 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $29.53, for a total value of $335,165.50. The disclosure for this sale can be found here. 1.36% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Penserra Capital Management LLC increased its stake in Gramercy Property Trust by 16.1% in the second quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 542 shares during the last quarter. Capital Analysts LLC bought a new stake in Gramercy Property Trust during the first quarter valued at about $139,000. Sii Investments Inc. WI bought a new stake in Gramercy Property Trust during the second quarter valued at about $208,000. Wittenberg Investment Management Inc. bought a new stake in Gramercy Property Trust during the second quarter valued at about $213,000. Finally, GW&K Investment Management LLC bought a new stake in Gramercy Property Trust during the second quarter valued at about $218,000. Hedge funds and other institutional investors own 87.02% of the company’s stock.

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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