Today, Insider Buying: Gramercy Property Trust Inc. (GPT) Director Buys $832,056.74 in Stock

Today, Insider Buying: Gramercy Property Trust Inc. (GPT) Director Buys $832,056.74 in Stock

Gramercy Property Trust Inc. (NYSE:GPT) Director Charles E. Black bought 97,774 shares of the stock in a transaction on Monday, November 21st. The stock was purchased at an average price of $8.51 per share, with a total value of $832,056.74. Following the completion of the purchase, the director now owns 203,545 shares of the company’s stock, valued at $1,732,167.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of Gramercy Property Trust Inc. (NYSE:GPT) opened at 8.82 on Friday. The stock’s 50 day moving average is $8.88 and its 200 day moving average is $9.25. Gramercy Property Trust Inc. has a 1-year low of $6.50 and a 1-year high of $10.03. The firm’s market capitalization is $3.72 billion.

Gramercy Property Trust (NYSE:GPT) last announced its earnings results on Wednesday, November 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. Gramercy Property Trust had a negative net margin of 4.93% and a negative return on equity of 1.04%. The firm had revenue of $131.10 million for the quarter, compared to the consensus estimate of $62.92 million. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s revenue for the quarter was up 101.1% on a year-over-year basis. Equities analysts predict that Gramercy Property Trust Inc. will post ($0.11) earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be paid a dividend of $0.125 per share. This is an increase from Gramercy Property Trust’s previous quarterly dividend of $0.11. This represents a $0.50 annualized dividend and a yield of 5.67%. The ex-dividend date is Wednesday, December 28th. Gramercy Property Trust’s dividend payout ratio is presently -231.58%.

A number of large investors have recently made changes to their positions in the company. Mariner Wealth Advisors LLC increased its stake in shares of Gramercy Property Trust by 1.3% in the second quarter. Mariner Wealth Advisors LLC now owns 10,884 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 140 shares during the last quarter. Utah Retirement Systems increased its stake in shares of Gramercy Property Trust by 1.0% in the third quarter. Utah Retirement Systems now owns 10,400 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 100 shares during the last quarter. IFC Holdings Incorporated FL increased its stake in shares of Gramercy Property Trust by 4.2% in the third quarter. IFC Holdings Incorporated FL now owns 10,497 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 424 shares during the last quarter. Sii Investments Inc. WI acquired a new stake in shares of Gramercy Property Trust during the second quarter valued at $109,000. Finally, Paragon Capital Management Ltd acquired a new stake in shares of Gramercy Property Trust during the second quarter valued at $110,000. 83.94% of the stock is currently owned by hedge funds and other institutional investors.

GPT has been the subject of several recent analyst reports. Compass Point raised their target price on shares of Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a research note on Thursday, August 4th. JMP Securities restated a “buy” rating on shares of Gramercy Property Trust in a research note on Tuesday, September 13th. Zacks Investment Research upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Monday, August 15th. Finally, TheStreet downgraded shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, October 11th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $9.96.

About Gramercy Property Trust

Related posts

Leave a Comment