Gramercy Property Trust Inc. (GPT) Stock Price Down 1.9%
Gramercy Property Trust Inc. (NYSE:GPT) was down 1.9% during mid-day trading on Friday . The company traded as low as $9.41 and last traded at $9.41, with a volume of 1,504,338 shares trading hands. The stock had previously closed at $9.59.
A number of equities research analysts have recently issued reports on GPT shares. TheStreet raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 3rd. Mitsubishi UFJ Financial Group started coverage on shares of Gramercy Property Trust in a research note on Tuesday, June 28th. They issued an “overweight” rating and a $10.50 price target on the stock. JMP Securities boosted their price target on shares of Gramercy Property Trust from $9.50 to $11.00 and gave the company a “market outperform” rating in a research note on Thursday, August 4th. Zacks Investment Research raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Monday, August 15th. 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 analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $9.96.
The firm’s 50-day moving average price is $9.75 and its 200 day moving average price is $8.75. The firm’s market capitalization is $3.95 billion.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. During the same period in the previous year, the company posted $0.13 earnings per share. The business earned $139.43 million during the quarter, compared to analyst estimates of $54.15 million. Gramercy Property Trust’s revenue was up 157.7% on a year-over-year basis. On average, equities analysts expect that Gramercy Property Trust Inc. will post ($0.11) EPS for the current fiscal year.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.98, for a total transaction of $359,200.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin P. Harris sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $9.55, for a total transaction of $955,000.00. Following the sale, the president now directly owns 394,141 shares in the company, valued at $3,764,046.55. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in GPT. Employees Retirement System of Texas boosted its stake 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 in the last quarter. Principal Financial Group Inc. purchased a new stake in Gramercy Property Trust during the fourth quarter valued at about $15,440,000. Finally, Morgan Stanley boosted its stake in 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 valued at $14,155,000 after buying an additional 1,200,449 shares in 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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