Advisors Asset Management Inc. cut its position in Gramercy Property Trust (NYSE:GPT) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,532 shares of the real estate investment trust’s stock after selling 5,088 shares during the period. Advisors Asset Management Inc.’s holdings in Gramercy Property Trust were worth $1,145,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wedbush Securities Inc. increased its stake in shares of Gramercy Property Trust by 9.0% in the second quarter. Wedbush Securities Inc. now owns 12,164 shares of the real estate investment trust’s stock worth $361,000 after buying an additional 1,000 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Gramercy Property Trust by 6.1% in the second quarter. Rhumbline Advisers now owns 212,668 shares of the real estate investment trust’s stock worth $6,318,000 after buying an additional 12,220 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Gramercy Property Trust by 6.2% in the second quarter. Teacher Retirement System of Texas now owns 11,942 shares of the real estate investment trust’s stock worth $355,000 after buying an additional 702 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Gramercy Property Trust by 88.8% in the second quarter. First Trust Advisors LP now owns 88,358 shares of the real estate investment trust’s stock worth $2,625,000 after buying an additional 41,552 shares during the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of Gramercy Property Trust during the second quarter worth approximately $13,209,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Gramercy Property Trust (NYSE GPT) opened at 29.46 on Tuesday. The stock has a market cap of $4.48 billion, a P/E ratio of 280.57 and a beta of 0.58. The firm’s 50-day moving average price is $29.65 and its 200-day moving average price is $28.45. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $31.19.

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

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 annualized dividend and a yield of 5.09%. Gramercy Property Trust’s dividend payout ratio (DPR) is presently 1,666.85%.

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A number of analysts have recently commented on the company. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Bank of America Corporation downgraded Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Wednesday, August 16th. BidaskClub downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. TheStreet downgraded Gramercy Property Trust from a “b-” rating to a “c” rating in a research note on Tuesday, August 1st. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, two have issued 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 target price of $31.67.

In other Gramercy Property Trust news, insider Nicholas L. Pell sold 11,350 shares of the business’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $29.53, for a total value of $335,165.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin P. Harris sold 5,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $29.68, for a total value of $148,400.00. The disclosure for this sale can be found here. Insiders own 1.36% 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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Institutional Ownership by Quarter for Gramercy Property Trust (NYSE:GPT)

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