Gramercy Property Trust Inc. (GPT) Stock Price Down 2.3%
Gramercy Property Trust Inc. (NYSE:GPT) shares were down 2.3% during trading on Thursday . The stock traded as low as $9.41 and last traded at $9.46, with a volume of 1,276,097 shares. The stock had previously closed at $9.68.
Several research analysts have commented on GPT shares. JMP Securities raised their target price on Gramercy Property Trust from $9.50 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 4th. Compass Point raised their target price on Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Stifel Nicolaus raised their target price on Gramercy Property Trust from $9.00 to $9.25 and gave the stock a “buy” rating in a research note on Thursday, May 5th. Mitsubishi UFJ Financial Group began coverage on Gramercy Property Trust in a research report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price target for the company. Finally, Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Monday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.96.
The stock’s market cap is $4.02 billion. The firm’s 50-day moving average price is $9.74 and its 200 day moving average price is $8.83.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $139.43 million for the quarter, compared to analysts’ expectations of $54.15 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was up 157.7% compared to the same quarter last year. Equities analysts anticipate that Gramercy Property Trust Inc. will post ($0.11) earnings per share for the current year.
In related news, President Benjamin P. Harris sold 40,000 shares of the company’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $8.98, for a total transaction of $359,200.00. Following the completion of the sale, the president now owns 570,880 shares in the company, valued at $5,126,502.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin P. Harris sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $9.55, for a total value of $955,000.00. Following the sale, the president now owns 394,141 shares of the company’s stock, valued at approximately $3,764,046.55. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Gramercy Property Trust stock. Employees Retirement System of Texas increased its position in Gramercy Property Trust Inc. (NYSE:GPT) by 219.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 169,857 shares of the real estate investment trust’s stock after buying an additional 116,607 shares during the period. Employees Retirement System of Texas owned approximately 0.30% of Gramercy Property Trust worth $1,311,000 at the end of the most recent reporting period.
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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