Zacks Investment Research upgraded shares of Gramercy Property Trust (NYSE:GPT) from a sell rating to a hold rating in a report issued on Wednesday, January 3rd.
According to Zacks, “Chambers Street Properties is a real estate investment trust. It acquires, owns and operates commercial real estate such as warehouse, logistics properties and office buildings. The Company’s properties are situated primarily in the United States and Europe. Chambers Street Properties is headquartered in Princeton, New Jersey. “
A number of other research analysts have also issued reports on GPT. SunTrust Banks set a $30.00 price objective on Gramercy Property Trust and gave the company a hold rating in a research report on Tuesday, October 31st. Ladenburg Thalmann Financial Services restated a buy rating on shares of Gramercy Property Trust in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Gramercy Property Trust from a hold rating to a buy rating in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $31.25.
Shares of Gramercy Property Trust (NYSE GPT) traded down $0.04 during midday trading on Wednesday, hitting $26.56. The stock had a trading volume of 759,900 shares, compared to its average volume of 1,071,900. Gramercy Property Trust has a 1-year low of $25.21 and a 1-year 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 $4,200.00, a P/E ratio of 61.77, a price-to-earnings-growth ratio of 1.79 and a beta of 0.54.
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 for the quarter, missing the Zacks’ 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 quarter last year, the firm posted $0.16 earnings per share. Gramercy Property Trust’s revenue was up 2.9% compared to the same quarter last year. research analysts forecast that Gramercy Property Trust will post 2.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 annualized dividend and a dividend yield of 5.65%. Gramercy Property Trust’s dividend payout ratio (DPR) is 348.84%.
In other news, President Benjamin P. Harris sold 6,371 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $26.73, for a total value of $170,296.83. Following the completion of the sale, the president now owns 89,730 shares in the company, valued at $2,398,482.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.36% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Sii Investments Inc. WI acquired a new stake in shares of Gramercy Property Trust during the second quarter worth $208,000. Wittenberg Investment Management Inc. acquired a new stake in shares of Gramercy Property Trust during the second quarter worth $213,000. Jane Street Group LLC acquired a new stake in shares of Gramercy Property Trust during the third quarter worth $214,000. Cetera Investment Advisers acquired a new stake in shares of Gramercy Property Trust during the second quarter worth $215,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of Gramercy Property Trust during the second quarter worth $226,000. Institutional investors and hedge funds own 91.99% of the company’s stock.
About Gramercy Property Trust
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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