Gramercy Property Trust Inc. (GPT) Hits New 1-Year High at $9.60
Gramercy Property Trust Inc. (NYSE:GPT) shares reached a new 52-week high during mid-day 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. The stock had previously closed at $9.44.
A number of research analysts recently issued reports on GPT shares. Zacks Investment Research raised Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Tuesday, April 5th. Mitsubishi UFJ Financial Group started coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 target price on the stock. TheStreet raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 3rd. Finally, Stifel Nicolaus lifted their target price on Gramercy Property Trust from $9.25 to $9.50 and gave the stock a “buy” rating in a report on Friday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $9.33.
The company’s market cap is $4.08 billion. The firm has a 50-day moving average price of $9.03 and a 200 day moving average price of $8.17.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The company earned $120.50 million during the quarter, compared to the consensus estimate of $62.92 million. Equities analysts expect 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. Shareholders of record on Thursday, June 30th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend is Tuesday, June 28th.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 40,000 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $8.98, for a total value of $359,200.00. Following the sale, the president now directly owns 570,880 shares in the company, valued at $5,126,502.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Other hedge funds have made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Gramercy Property Trust during the fourth quarter valued at approximately $14,271,000. Paradigm Capital Management Inc. NY boosted its stake in shares of 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 shares of Gramercy Property Trust during the fourth quarter valued at approximately $12,449,000. State of New Jersey Common Pension Fund D boosted its stake in shares of 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 shares of Gramercy Property Trust during the fourth quarter valued at approximately $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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