Gramercy Property Trust Inc. (GPT) Receives $9.55 Average Target Price from Analysts
Shares of Gramercy Property Trust Inc. (NYSE:GPT) have been given an average rating of “Buy” by the eight ratings firms that are presently covering the firm. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $9.55.
A number of analysts have recently weighed in on GPT shares. JMP Securities reiterated a “buy” rating on shares of Gramercy Property Trust in a research report on Tuesday, September 13th. TheStreet downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. Mitsubishi UFJ Financial Group started coverage on Gramercy Property Trust in a research report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 target price for the company. Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, August 15th. Finally, Compass Point upped their target price on Gramercy Property Trust from $10.25 to $11.50 and gave the company a “buy” rating in a research report on Thursday, August 4th.
Shares of Gramercy Property Trust (NYSE:GPT) opened at 9.10 on Tuesday. The company has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.17. Gramercy Property Trust has a 12 month low of $6.50 and a 12 month high of $10.03. The firm’s market capitalization is $3.84 billion.
Gramercy Property Trust (NYSE:GPT) last released its earnings results 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. The firm earned $139.43 million during 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 company’s revenue was up 157.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Equities analysts forecast that Gramercy Property Trust will post ($0.11) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a $0.11 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.44 annualized dividend and a yield of 4.84%. Gramercy Property Trust’s dividend payout ratio is presently -293.31%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 100,000 shares of the 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 completion of the transaction, the president now directly owns 394,141 shares in the company, valued at $3,764,046.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas D. Eckert bought 10,000 shares of the company’s stock in a transaction on Friday, September 16th. The stock was purchased at an average price of $9.27 per share, with a total value of $92,700.00. Following the completion of the transaction, the director now directly owns 89,225 shares of the company’s stock, valued at approximately $827,115.75. The disclosure for this purchase can be found here. 0.96% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Heitman Real Estate Securities LLC increased its position in Gramercy Property Trust by 173.1% in the first quarter. Heitman Real Estate Securities LLC now owns 7,646,132 shares of the real estate investment trust’s stock valued at $64,610,000 after buying an additional 4,845,916 shares in the last quarter. JPMorgan Chase & Co. increased its position in Gramercy Property Trust by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 2,234,540 shares of the real estate investment trust’s stock valued at $18,882,000 after buying an additional 50,050 shares in the last quarter. Hilton Capital Management LLC increased its position in Gramercy Property Trust by 6.6% in the second quarter. Hilton Capital Management LLC now owns 1,610,697 shares of the real estate investment trust’s stock valued at $14,851,000 after buying an additional 100,394 shares in the last quarter. MSI Financial Services Inc increased its position in Gramercy Property Trust by 7.6% in the second quarter. MSI Financial Services Inc now owns 361,127 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 25,540 shares in the last quarter. Finally, Trutina Financial LLC purchased a new position in Gramercy Property Trust during the second quarter valued at approximately $113,000. Hedge funds and other institutional investors own 82.83% of the company’s stock.
About Gramercy Property Trust
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.