Gramercy Property Trust Inc. (GPT) Sees Unusually-High Trading Volume
Shares of Gramercy Property Trust Inc. (NYSE:GPT) saw an uptick in trading volume on Wednesday . 3,034,683 shares changed hands during trading, an increase of 7% from the previous session’s volume of 2,844,393 shares.The stock last traded at $9.77 and had previously closed at $9.75.
Several research firms recently commented on GPT. Stifel Nicolaus boosted their price objective on shares of Gramercy Property Trust from $9.25 to $9.50 and gave the stock a “buy” rating in a research note on Friday, May 13th. Zacks Investment Research lowered shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Mitsubishi UFJ Financial Group began coverage on shares of Gramercy Property Trust in a research note on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price objective for the company. Finally, TheStreet upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $9.33.
The company’s market cap is $4.12 billion. The firm has a 50 day moving average of $9.12 and a 200-day moving average of $8.22.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported $0.17 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The business earned $120.50 million during the quarter, compared to analysts’ expectations of $62.92 million. On average, analysts expect that Gramercy Property Trust Inc. will post ($0.11) earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Tuesday, June 28th.
In other news, President Benjamin P. Harris sold 40,000 shares of the firm’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 value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several hedge funds and institutional investors have bought and sold shares of GPT. ING Groep acquired a new position in Gramercy Property Trust during the third quarter valued at approximately $1,039,000. Russell Frank Co raised its position in Gramercy Property Trust by 26.5% in the fourth quarter. Russell Frank Co now owns 1,174,289 shares of the real estate investment trust’s stock valued at $9,132,000 after buying an additional 246,359 shares during the last quarter. Nationwide Fund Advisors raised its position in Gramercy Property Trust by 1,075.2% in the fourth quarter. Nationwide Fund Advisors now owns 436,486 shares of the real estate investment trust’s stock valued at $3,370,000 after buying an additional 399,344 shares during the last quarter. California State Teachers Retirement System raised its position in Gramercy Property Trust by 644.7% in the fourth quarter. California State Teachers Retirement System now owns 777,521 shares of the real estate investment trust’s stock valued at $6,002,000 after buying an additional 673,107 shares during the last quarter. Finally, Swiss National Bank raised its position in Gramercy Property Trust by 596.1% in the fourth quarter. Swiss National Bank now owns 529,024 shares of the real estate investment trust’s stock valued at $4,084,000 after buying an additional 453,024 shares during the last quarter.
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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