Metropolitan Life Insurance Co. NY lowered its position in Gramercy Property Trust (NYSE:GPT) by 68.0% during the first quarter, Holdings Channel reports. The firm owned 101,486 shares of the real estate investment trust’s stock after selling 215,978 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Gramercy Property Trust were worth $2,669,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Capital Analysts LLC acquired a new stake in shares of Gramercy Property Trust during the first quarter worth $139,000. Rehmann Capital Advisory Group acquired a new stake in shares of Gramercy Property Trust during the first quarter worth $207,000. Financial Consulate Inc. acquired a new stake in shares of Gramercy Property Trust during the first quarter worth $225,000. Karp Capital Management Corp acquired a new stake in shares of Gramercy Property Trust during the first quarter worth $256,000. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Gramercy Property Trust during the first quarter worth $288,000. 81.62% of the stock is owned by hedge funds and other institutional investors.

Gramercy Property Trust (NYSE GPT) opened at 29.75 on Monday. Gramercy Property Trust has a one year low of $24.09 and a one year high of $31.19. The firm has a 50-day moving average of $29.68 and a 200-day moving average of $27.69. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 117.13 and a beta of 0.58.

Gramercy Property Trust (NYSE:GPT) last posted its earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. Gramercy Property Trust had a net margin of 8.24% and a return on equity of 1.59%. The business had revenue of $129.99 million for the quarter, compared to analyst estimates of $126.88 million. Analysts anticipate that Gramercy Property Trust will post ($0.11) EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.375 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 5.04%. Gramercy Property Trust’s payout ratio is presently 652.15%.

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GPT has been the subject of a number of research reports. TheStreet raised shares of Gramercy Property Trust from a “c+” rating to a “b-” rating in a research report on Monday, June 12th. Compass Point reiterated a “buy” rating and issued a $34.00 price objective (up previously from $30.00) on shares of Gramercy Property Trust in a report on Monday, June 19th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, May 3rd. BidaskClub upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $33.33.

In related news, President Benjamin P. Harris sold 5,000 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $29.68, for a total value of $148,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas L. Pell sold 11,350 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $29.53, for a total transaction of $335,165.50. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.

About Gramercy Property Trust

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

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