Gramercy Property Trust Inc. (NYSE:GPT) shares hit a new 52-week high during trading on Friday . The company traded as high as $10.03 and last traded at $9.93, with a volume of 1,711,651 shares trading hands. The stock had previously closed at $9.82.

A number of brokerages have commented on GPT. TheStreet upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, June 3rd. Stifel Nicolaus increased their price target on shares of Gramercy Property Trust from $9.25 to $9.50 and gave the company a “buy” rating in a research report on Friday, May 13th. Mitsubishi UFJ Financial Group began coverage on shares of Gramercy Property Trust in a research report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price target on the stock. Finally, Zacks Investment Research cut shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Gramercy Property Trust currently has a consensus rating of “Buy” and a consensus target price of $9.33.

The firm’s market capitalization is $4.21 billion. The company has a 50 day moving average price of $9.36 and a 200 day moving average price of $8.38.

Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.17 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.17. The business earned $120.50 million during the quarter, compared to analysts’ expectations of $62.92 million. On average, equities research analysts expect that Gramercy Property Trust Inc. will post ($0.11) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a $0.11 dividend. The ex-dividend date of this dividend was Tuesday, June 28th. This represents a $0.44 dividend on an annualized basis and a yield of 4.40%.

In related news, President Benjamin P. Harris sold 40,000 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 570,880 shares of the company’s stock, valued at approximately $5,126,502.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

A number of hedge funds and institutional investors have bought and sold shares of the company. ING Groep acquired a new position in Gramercy Property Trust during the third quarter worth approximately $1,039,000. First Trust Advisors LP boosted its stake in shares of 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 boosted its stake in shares of 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 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 period. Finally, Nationwide Fund Advisors boosted its stake in shares of 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 period.

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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