The Gramercy Property Trust Inc. (GPT) gets “Hold” status at TheStreet

The Gramercy Property Trust Inc. (GPT) gets “Hold” status at TheStreet

TheStreet cut shares of Gramercy Property Trust Inc. (NYSE:GPT) from a buy rating to a hold rating in a report issued on Tuesday morning.

Several other analysts also recently weighed in on the company. Mitsubishi UFJ Financial Group initiated coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They issued an overweight rating and a $10.50 price objective for the company. JMP Securities lifted their price objective on Gramercy Property Trust from $9.50 to $11.00 and gave the company a market outperform rating in a report on Thursday, August 4th. Zacks Investment Research downgraded Gramercy Property Trust from a buy rating to a hold rating in a report on Thursday, September 15th. Finally, Compass Point lifted their price objective on Gramercy Property Trust from $10.25 to $11.50 and gave the company a buy rating in a report on Thursday, August 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $9.96.

Shares of Gramercy Property Trust (NYSE:GPT) traded up 1.94% during mid-day trading on Tuesday, hitting $8.93. 2,350,380 shares of the stock were exchanged. Gramercy Property Trust has a 12 month low of $6.50 and a 12 month high of $10.03. The stock’s market cap is $3.77 billion. The stock’s 50 day moving average is $9.41 and its 200-day moving average is $9.18.

Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The firm earned $139.43 million during the quarter, compared to the consensus estimate of $54.15 million. Gramercy Property Trust had a negative return on equity of 0.89% and a negative net margin of 3.93%. The firm’s quarterly revenue was up 157.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. On average, analysts anticipate that Gramercy Property Trust will post ($0.11) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.44 annualized dividend and a dividend yield of 4.93%. Gramercy Property Trust’s dividend payout ratio (DPR) is currently -293.31%.

In related news, Director Thomas D. Eckert acquired 10,000 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were purchased at an average price of $9.27 per share, for a total transaction of $92,700.00. Following the completion of the acquisition, the director now directly owns 89,225 shares in the company, valued at approximately $827,115.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Benjamin P. Harris sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $9.55, for a total transaction of $955,000.00. Following the transaction, the president now owns 394,141 shares in the company, valued at approximately $3,764,046.55. The disclosure for this sale can be found here. Insiders own 0.96% of the company’s stock.

Several institutional investors have recently bought and sold shares of GPT. Mariner Wealth Advisors LLC increased its position in 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 period. Sii Investments Inc. WI bought a new position in Gramercy Property Trust during the second quarter valued at about $109,000. Paragon Capital Management Ltd bought a new position in Gramercy Property Trust during the second quarter valued at about $110,000. Trutina Financial LLC bought a new position in Gramercy Property Trust during the second quarter valued at about $113,000. Finally, Cubist Systematic Strategies LLC bought a new position in Gramercy Property Trust during the second quarter valued at about $117,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.

Gramercy Property Trust Company Profile

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