Gramercy Property Trust Inc. (GPT) Shares Down 2.3%
Gramercy Property Trust Inc. (NYSE:GPT)’s share price traded 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 changing hands. The stock had previously closed at $9.68.
Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on Gramercy Property Trust from $9.25 to $9.50 and gave the company a “buy” rating in a research note on Friday, May 13th. Compass Point boosted their target price on shares of Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a report 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 target price on the stock in a report on Monday, August 15th. JMP Securities boosted their target price on shares of Gramercy Property Trust from $9.50 to $11.00 and gave the company a “market outperform” rating in a report on Thursday, August 4th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 target price on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Gramercy Property Trust currently has a consensus rating of “Buy” and an average target price of $9.96.
The firm has a 50-day moving average of $9.73 and a 200-day moving average of $8.84. The stock’s market cap is $4.07 billion.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The firm had revenue of $139.43 million for the quarter, compared to the consensus estimate of $54.15 million. During the same period last year, the business earned $0.13 EPS. Gramercy Property Trust’s revenue was up 157.7% on a year-over-year basis. Equities analysts expect that Gramercy Property Trust Inc. will post ($0.11) EPS for the current year.
In related news, President Benjamin P. Harris sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $9.55, for a total transaction of $955,000.00. Following the completion of the sale, the president now owns 394,141 shares of the company’s stock, valued at $3,764,046.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin P. Harris sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here.
An institutional investor recently raised its position in Gramercy Property Trust stock. Employees Retirement System of Texas increased its stake in Gramercy Property Trust Inc. (NYSE:GPT) by 219.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor 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 0.30% of Gramercy Property Trust worth $1,311,000 as of its most recent SEC filing.
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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