Gramercy Property Trust Inc. (GPT) Sets New 1-Year High at $9.60
Shares of Gramercy Property Trust Inc. (NYSE:GPT) reached a new 52-week high during trading on Friday . The company traded as high as $9.60 and last traded at $9.57, with a volume of 1,490,777 shares trading hands. The stock had previously closed at $9.44.
GPT has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a report on Friday, March 11th. TheStreet upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 3rd. Stifel Nicolaus increased their price objective on shares of Gramercy Property Trust from $9.25 to $9.50 and gave the company a “buy” rating in a report on Friday, May 13th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of Gramercy Property Trust in a report on Tuesday, June 28th. They issued an “overweight” rating and a $10.50 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $9.33.
The stock’s market capitalization is $4.04 billion. The stock has a 50 day moving average price of $9.00 and a 200 day moving average price of $8.16.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $120.50 million for the quarter, compared to analysts’ expectations of $62.92 million. Analysts forecast that Gramercy Property Trust Inc. will post ($0.11) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.66%. The ex-dividend date is Tuesday, June 28th.
In related news, President Benjamin P. Harris sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $8.98, for a total transaction of $359,200.00. Following the completion of the transaction, the president now owns 570,880 shares of the company’s stock, valued at $5,126,502.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several large investors have added to or reduced their stakes in GPT. Dimensional Fund Advisors LP acquired a new stake in Gramercy Property Trust during the fourth quarter valued at about $14,271,000. Paradigm Capital Management Inc. NY raised its stake in Gramercy Property Trust by 215.5% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 182,928 shares of the real estate investment trust’s stock valued at $1,412,000 after buying an additional 124,953 shares during the last quarter. Waterfront Capital Partners LLC acquired a new stake in Gramercy Property Trust during the fourth quarter valued at about $12,449,000. State of New Jersey Common Pension Fund D raised its stake in Gramercy Property Trust by 234.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 1,859,518 shares of the real estate investment trust’s stock valued at $14,356,000 after buying an additional 1,303,268 shares during the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Gramercy Property Trust during the fourth quarter valued at about $11,877,000.
Gramercy Property Trust, formerly Chambers Street Properties, is an investor and asset manager of commercial real estate, and operates as a real estate investment trust (REIT). The Company specializes in acquiring and managing single-tenant, net leased industrial and office properties in the United States and Europe markets.
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