Gramercy Property Trust (GPT) Short Interest Down 48.9% in October
Gramercy Property Trust (NYSE:GPT) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,479,478 shares, a decline of 48.9% from the October 13th total of 4,856,911 shares. Based on an average daily trading volume, of 815,898 shares, the short-interest ratio is presently 3.0 days. Currently, 1.6% of the company’s shares are sold short.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday. SunTrust Banks, Inc. set a $30.00 price target on shares of Gramercy Property Trust and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price target on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation downgraded shares of Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price target for the company. in a research note on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $31.25.
Shares of Gramercy Property Trust (NYSE GPT) opened at $29.03 on Friday. Gramercy Property Trust has a 12 month low of $24.30 and a 12 month high of $31.26. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.76. The company has a market cap of $4,664.28, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 2.00 and a beta of 0.57.
Gramercy Property Trust (NYSE:GPT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The firm had revenue of $134.90 million during the quarter, compared to the consensus estimate of $135.45 million. During the same period in the previous year, the company posted $0.16 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. equities research analysts forecast that Gramercy Property Trust will post 2.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Thursday, December 28th. Gramercy Property Trust’s payout ratio is presently 340.92%.
In related news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total transaction of $274,500.00. Following the completion of the sale, the president now directly owns 96,101 shares of the company’s stock, valued at $2,931,080.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.96% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Suntrust Banks Inc. increased its stake in Gramercy Property Trust by 0.3% in the second quarter. Suntrust Banks Inc. now owns 26,766 shares of the real estate investment trust’s stock valued at $794,000 after purchasing an additional 80 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Gramercy Property Trust by 0.4% in the first quarter. Public Employees Retirement System of Ohio now owns 58,547 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 209 shares in the last quarter. Advisor Group Inc. increased its stake in Gramercy Property Trust by 1.5% in the second quarter. Advisor Group Inc. now owns 20,752 shares of the real estate investment trust’s stock valued at $506,000 after purchasing an additional 315 shares in the last quarter. 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 purchasing an additional 542 shares in the last quarter. Finally, People s United Financial Inc. increased its stake in Gramercy Property Trust by 1.9% in the second quarter. People s United Financial Inc. now owns 36,657 shares of the real estate investment trust’s stock valued at $1,089,000 after purchasing an additional 698 shares in the last quarter. 87.21% of the stock is owned by hedge funds and other institutional investors.
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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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