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