Gramercy Property Trust Inc. (GPT) Sets New 12-Month High at $9.84
Shares of Gramercy Property Trust Inc. (NYSE:GPT) reached a new 52-week high on Friday . The company traded as high as $9.84 and last traded at $9.77, with a volume of 2,490,708 shares traded. The stock had previously closed at $9.66.
A number of analysts have weighed in on the company. TheStreet raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, June 3rd. Stifel Nicolaus raised their price target on Gramercy Property Trust from $9.25 to $9.50 and gave the company a “buy” rating in a report on Friday, May 13th. 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 target for the company. Finally, Zacks Investment Research cut Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Gramercy Property Trust has an average rating of “Buy” and a consensus price target of $9.33.
The stock’s market capitalization is $4.12 billion. The stock has a 50-day moving average of $9.17 and a 200 day moving average of $8.24.
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 for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.17. The firm earned $120.50 million during the quarter, compared to the consensus estimate of $62.92 million. Equities analysts predict that Gramercy Property Trust Inc. will post ($0.11) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Tuesday, June 28th.
In related news, President Benjamin P. Harris sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $8.98, for a total value of $359,200.00. Following the completion of the sale, the president now directly owns 570,880 shares of the company’s stock, valued at $5,126,502.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
A number of hedge funds have recently made changes to their positions in the stock. ING Groep purchased a new stake in shares of Gramercy Property Trust during the third quarter valued at $1,039,000. First Trust Advisors LP raised its position in Gramercy Property Trust by 679.2% in the fourth quarter. First Trust Advisors LP now owns 163,201 shares of the real estate investment trust’s stock valued at $1,260,000 after buying an additional 142,256 shares during the period. Employees Retirement System of Texas raised its position in Gramercy Property Trust by 219.0% in the fourth quarter. Employees Retirement System of Texas now owns 169,857 shares of the real estate investment trust’s stock valued at $1,311,000 after buying an additional 116,607 shares during the period. Paradigm Capital Management Inc. NY raised its position 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 period. Finally, Private Advisor Group LLC bought a new position in Gramercy Property Trust during the fourth quarter valued at approximately $1,559,000.
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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