ValuEngine upgraded shares of Gramercy Property Trust (NYSE:GPT) from a hold rating to a buy rating in a research note released on Thursday.
A number of other equities research analysts have also issued reports on the company. SunTrust Banks, Inc. set a $30.00 price target on Gramercy Property Trust and gave the stock a hold rating in a research note on Tuesday, October 31st. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Gramercy Property Trust in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a buy rating and set a $31.00 target price on shares of Gramercy Property Trust in a research report on Tuesday, August 22nd. Bank of America Corporation lowered Gramercy Property Trust from a neutral rating to an underperform rating and set a $30.00 target price for the company. in a research report on Wednesday, August 16th. Finally, BidaskClub lowered Gramercy Property Trust from a buy rating to a hold rating in a research report on Monday, August 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $31.25.
Shares of Gramercy Property Trust (GPT) traded up $0.01 during mid-day trading on Thursday, hitting $29.03. The company had a trading volume of 596,100 shares, compared to its average volume of 919,863. Gramercy Property Trust has a 52-week low of $24.30 and a 52-week high of $31.26. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market cap of $4,664.28, a price-to-earnings ratio of 14.44, a P/E/G ratio of 2.00 and a beta of 0.57.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. The business had revenue of $134.90 million for the quarter, compared to the consensus estimate of $135.45 million. During the same period in the prior year, the business posted $0.16 earnings per share. Gramercy Property Trust’s revenue was up 2.9% on a year-over-year basis. equities research analysts anticipate that Gramercy Property Trust will post 2.08 earnings per share 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 given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Thursday, December 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is presently 340.92%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of Gramercy Property Trust stock in a transaction on Tuesday, September 12th. The stock was 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 approximately $2,931,080.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GPT. Penserra Capital Management LLC raised its position in shares of Gramercy Property Trust by 16.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 542 shares in the last quarter. Sii Investments Inc. WI bought a new position in shares of Gramercy Property Trust in the 2nd quarter worth $208,000. Wittenberg Investment Management Inc. bought a new position in shares of Gramercy Property Trust in the 2nd quarter worth $213,000. Cetera Investment Advisers bought a new position in shares of Gramercy Property Trust in the 2nd quarter worth $215,000. Finally, GW&K Investment Management LLC bought a new position in shares of Gramercy Property Trust in the 2nd quarter worth $218,000. 87.21% of the stock is owned by hedge funds and other institutional investors.
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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