Gramercy Property Trust Inc. (GPT) Hits New 1-Year High at $9.84
Shares of Gramercy Property Trust Inc. (NYSE:GPT) reached a new 52-week high during trading on Friday . The company traded as high as $9.84 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 commented on GPT shares. Zacks Investment Research raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, April 5th. TheStreet raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 3rd. Mitsubishi UFJ Financial Group started coverage on shares of Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 target price for the company. Finally, Stifel Nicolaus lifted their target price on shares of Gramercy Property Trust from $9.00 to $9.25 and gave the stock a “buy” rating in a report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $9.33.
The company’s 50 day moving average is $9.17 and its 200-day moving average is $8.24. The company’s market cap is $4.12 billion.
Gramercy Property Trust (NYSE:GPT) last issued 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 company 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) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Tuesday, June 28th.
In related news, President Benjamin P. Harris sold 40,000 shares of the 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 approximately $5,126,502.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several institutional investors have added to or reduced their stakes in GPT. Employees Retirement System of Texas increased 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 last quarter. Dimensional Fund Advisors LP acquired a new position in Gramercy Property Trust during the fourth quarter valued at about $14,271,000. Paradigm Capital Management Inc. NY increased 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 last quarter. Waterfront Capital Partners LLC acquired a new position in Gramercy Property Trust during the fourth quarter valued at about $12,449,000. Finally, State of New Jersey Common Pension Fund D increased its position 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.
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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