Gramercy Property Trust (NYSE:GPT) Shares Sold by UBS Group AG
UBS Group AG cut its position in shares of Gramercy Property Trust (NYSE:GPT) by 62.6% during the first quarter, Holdings Channel reports. The institutional investor owned 36,580 shares of the real estate investment trust’s stock after selling 61,166 shares during the period. UBS Group AG’s holdings in Gramercy Property Trust were worth $962,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Uniplan Investment Counsel Inc. bought a new stake in Gramercy Property Trust during the first quarter worth about $30,731,000. Good Life Advisors LLC bought a new stake in Gramercy Property Trust during the first quarter worth about $443,000. Stratos Wealth Partners LTD. bought a new stake in Gramercy Property Trust during the first quarter worth about $375,000. Credit Agricole S A bought a new stake in Gramercy Property Trust during the first quarter worth about $2,827,000. Finally, Westpac Banking Corp boosted its stake in Gramercy Property Trust by 79.7% in the first quarter. Westpac Banking Corp now owns 802,195 shares of the real estate investment trust’s stock worth $9,531,000 after buying an additional 355,795 shares in the last quarter. 81.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gramercy Property Trust (NYSE GPT) opened at 30.17 on Thursday. Gramercy Property Trust has a 52 week low of $24.09 and a 52 week high of $31.19. The firm has a market cap of $4.58 billion, a PE ratio of 118.78 and a beta of 0.58. The firm’s 50-day moving average is $30.10 and its 200 day moving average is $27.99.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Gramercy Property Trust had a return on equity of 1.59% and a net margin of 8.24%. The business had revenue of $129.99 million during the quarter, compared to analysts’ expectations of $126.88 million. Equities research analysts forecast that Gramercy Property Trust will post ($0.11) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Wednesday, June 28th. Gramercy Property Trust’s dividend payout ratio is currently 652.15%.
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A number of equities research analysts recently issued reports on the stock. BidaskClub cut shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Compass Point reissued 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, June 19th. TheStreet raised shares of Gramercy Property Trust from a “c+” rating to a “b-” rating in a research note on Monday, June 12th. ValuEngine raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Gramercy Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.33.
In other news, President Benjamin P. Harris sold 5,000 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $29.68, for a total value of $148,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas L. Pell sold 11,350 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $29.53, for a total value of $335,165.50. The disclosure for this sale can be found here. Company insiders own 0.96% 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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