American International Group Inc. lowered its stake in Gramercy Property Trust (NYSE:GPT) by 64.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,544 shares of the real estate investment trust’s stock after selling 157,494 shares during the period. American International Group Inc.’s holdings in Gramercy Property Trust were worth $2,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Comerica Bank raised its stake in shares of Gramercy Property Trust by 16.9% in the fourth quarter. Comerica Bank now owns 93,762 shares of the real estate investment trust’s stock valued at $861,000 after buying an additional 13,568 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $4,905,000. Dimensional Fund Advisors LP raised its stake in shares of Gramercy Property Trust by 30.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,907,434 shares of the real estate investment trust’s stock valued at $45,048,000 after buying an additional 1,157,783 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Gramercy Property Trust by 100.2% in the fourth quarter. Macquarie Group Ltd. now owns 4,383,006 shares of the real estate investment trust’s stock valued at $40,236,000 after buying an additional 2,193,847 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Gramercy Property Trust by 6.1% in the fourth quarter. State Street Corp now owns 10,182,187 shares of the real estate investment trust’s stock valued at $93,476,000 after buying an additional 584,489 shares in the last quarter. 81.61% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Gramercy Property Trust (NYSE:GPT)

Shares of Gramercy Property Trust (NYSE GPT) opened at 30.51 on Tuesday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 120.12 and a beta of 0.58. The company has a 50-day moving average price of $29.07 and a 200 day moving average price of $27.49. Gramercy Property Trust has a 52 week low of $24.09 and a 52 week high of $30.96.

Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. Gramercy Property Trust had a return on equity of 1.59% and a net margin of 8.24%. The firm had revenue of $129.99 million for the quarter, compared to analyst estimates of $126.88 million. Analysts expect that Gramercy Property Trust will post ($0.11) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend is Wednesday, June 28th. Gramercy Property Trust’s dividend payout ratio is presently 652.15%.

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GPT has been the topic of several recent analyst reports. TheStreet raised Gramercy Property Trust from a “c+” rating to a “b-” rating in a research note on Monday, June 12th. Compass Point reaffirmed a “buy” rating and issued a $34.00 price target (up previously from $30.00) on shares of Gramercy Property Trust in a research note on Monday. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, May 3rd. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.88.

Gramercy Property Trust Company Profile

Gramercy Property Trust is a real estate investment trust (REIT), which is 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 all of its activities related to the investment and ownership of commercial properties located throughout the United States and Europe.

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