Shares of Gramercy Property Trust Inc. (NYSE:GPT) fell 2.8% during trading on Tuesday . The company traded as low as $9.52 and last traded at $9.56, with a volume of 1,480,747 shares trading hands. The stock had previously closed at $9.84.

A number of brokerages have commented on GPT. 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. TheStreet upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 3rd. Stifel Nicolaus boosted 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 note on Friday, May 13th. 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 target for the company. Finally, Compass Point boosted their price target on shares of Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Gramercy Property Trust has an average rating of “Buy” and an average target price of $9.96.

The stock has a 50-day moving average price of $9.67 and a 200-day moving average price of $8.64. The stock’s market cap is $4.05 billion.

Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. During the same period last year, the company posted $0.13 EPS. The company had revenue of $139.43 million for the quarter, compared to analysts’ expectations of $54.15 million. The business’s revenue for the quarter was up 157.7% compared to the same quarter last year. On average, analysts anticipate that Gramercy Property Trust Inc. will post ($0.11) earnings per share for the current fiscal year.

In related news, President Benjamin P. Harris sold 40,000 shares of the firm’s stock in a transaction 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 completion of the sale, the president now owns 570,880 shares of the company’s stock, valued at $5,126,502.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of hedge funds have made changes to their positions in the company. Principal Financial Group Inc. acquired a new stake in shares of Gramercy Property Trust during the fourth quarter worth approximately $15,440,000. State of New Jersey Common Pension Fund D raised its stake in shares of 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 worth $14,356,000 after buying an additional 1,303,268 shares during the last quarter. Morgan Stanley raised its stake in shares of Gramercy Property Trust by 189.6% in the fourth quarter. Morgan Stanley now owns 1,833,628 shares of the real estate investment trust’s stock worth $14,155,000 after buying an additional 1,200,449 shares during the last quarter. New York State Common Retirement Fund raised its stake 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 worth $4,453,000 after buying an additional 437,605 shares during the last quarter. Finally, First Trust Advisors LP raised 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 worth $1,260,000 after buying an additional 142,256 shares during the last quarter.

Gramercy Property Trust, formerly Chambers Street Properties, is a real estate investment trust, which operates as an investor and asset manager of commercial real estate. The Company’s operating segments include Investments/Corporate and Asset Management. The Investments/Corporate segment includes the Company’s activities related to the investment and ownership of commercial properties located throughout the United States and Europe.

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