Gramercy Property Trust Inc. (GPT) To Go Ex-Dividend on September 28th
Gramercy Property Trust Inc. (NYSE:GPT) declared a quarterly dividend on Monday, September 12th. Investors of record on Friday, September 30th will be given a dividend of 0.11 per share by the real estate investment trust on Friday, October 14th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend is Wednesday, September 28th.
A number of research analysts recently issued reports on the company. JMP Securities increased their price objective on Gramercy Property Trust from $9.50 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, August 4th. Compass Point increased their price objective on Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Monday, August 15th. TheStreet upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 3rd. Finally, Mitsubishi UFJ Financial Group assumed coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $9.96.
In other news, President Benjamin P. Harris sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $9.55, for a total value of $955,000.00. Following the transaction, the president now directly owns 394,141 shares of the company’s stock, valued at approximately $3,764,046.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas D. Eckert acquired 10,000 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was acquired at an average cost of $9.27 per share, for a total transaction of $92,700.00. Following the completion of the purchase, the director now directly owns 89,225 shares in the company, valued at $827,115.75. The disclosure for this purchase can be found here. 0.96% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Gramercy Property Trust during the second quarter worth about $160,000. Cubist Systematic Strategies LLC acquired a new position in shares of Gramercy Property Trust during the second quarter worth about $117,000. AQR Capital Management LLC increased its position in shares of Gramercy Property Trust by 19.0% in the second quarter. AQR Capital Management LLC now owns 590,630 shares of the real estate investment trust’s stock worth $5,446,000 after buying an additional 94,222 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Gramercy Property Trust during the second quarter worth about $532,000. Finally, Brinker Capital Inc. acquired a new position in shares of Gramercy Property Trust during the second quarter worth about $149,000. 82.83% of the stock is currently owned by institutional investors.
Gramercy Property Trust (NYSE:GPT) opened at 9.71 on Friday. Gramercy Property Trust has a 12 month low of $6.34 and a 12 month high of $10.03. The firm’s market capitalization is $4.10 billion. The company’s 50-day moving average price is $9.59 and its 200 day moving average price is $9.04.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $139.43 million for the quarter, compared to the consensus estimate of $54.15 million. Gramercy Property Trust had a negative return on equity of 0.89% and a negative net margin of 3.93%. The firm’s revenue was up 157.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.13 EPS. On average, equities research analysts predict that Gramercy Property Trust will post ($0.11) earnings per share for the current year.
Gramercy Property Trust Company Profile
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.
Receive News & Ratings for Gramercy Property Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.