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

Several equities analysts have weighed in 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 price target on the stock 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 price target on the stock. Finally, Stifel Nicolaus lifted their price target on shares of Gramercy Property Trust from $9.00 to $9.25 and gave the company a “buy” rating in a report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Gramercy Property Trust presently has a consensus rating of “Buy” and a consensus target price of $9.33.

The company has a 50-day moving average of $9.39 and a 200-day moving average of $8.40. The company’s market cap is $4.21 billion.

Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. The business earned $120.50 million during the quarter, compared to analyst estimates of $62.92 million. On average, 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 annualized dividend and a yield of 4.40%.

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 transaction, the president now owns 570,880 shares in the company, valued at approximately $5,126,502.40. The sale was disclosed in a filing with the SEC, which is available through this link.

Other institutional investors have modified their holdings of the company. ING Groep acquired a new position in shares of Gramercy Property Trust during the third quarter valued at $1,039,000. First Trust Advisors LP increased its position 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 increased its position 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 increased its position 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, New York State Common Retirement Fund increased its position in shares of Gramercy Property Trust by 314.4% in the fourth quarter. New York State Common Retirement Fund now owns 576,805 shares of the real estate investment trust’s stock valued at $4,453,000 after buying an additional 437,605 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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