Zacks: Brokerages Expect Gramercy Property Trust (GPT) Will Announce Earnings of $0.55 Per Share
Wall Street brokerages predict that Gramercy Property Trust (NYSE:GPT) will report earnings of $0.55 per share for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Gramercy Property Trust’s earnings, with estimates ranging from $0.51 to $0.59. Gramercy Property Trust posted earnings per share of $0.54 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.9%. The company is expected to report its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Gramercy Property Trust will report full year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $2.06 to $2.18. For the next financial year, analysts forecast that the firm will report earnings of $2.24 per share, with EPS estimates ranging from $2.19 to $2.29. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Gramercy Property Trust.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by $0.02. The firm had revenue of $131.40 million for the quarter, compared to the consensus estimate of $136.30 million. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS.
A number of research analysts recently issued reports on GPT shares. BidaskClub upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. TheStreet upgraded shares of Gramercy Property Trust from a “c+” rating to a “b-” rating in a research note on Monday, June 12th. Compass Point reiterated 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. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of Gramercy Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $33.50.
In related news, President Benjamin P. Harris sold 5,000 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $29.68, for a total value of $148,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas L. Pell sold 11,350 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The stock was 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. 1.36% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Gramercy Property Trust by 1,126.6% in the first quarter. BlackRock Inc. now owns 12,215,404 shares of the real estate investment trust’s stock worth $321,267,000 after buying an additional 11,219,518 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Gramercy Property Trust by 145,835.3% in the second quarter. Victory Capital Management Inc. now owns 1,265,259 shares of the real estate investment trust’s stock worth $37,591,000 after buying an additional 1,264,392 shares during the last quarter. Uniplan Investment Counsel Inc. bought a new stake in Gramercy Property Trust during the first quarter worth $30,731,000. Prudential Financial Inc. boosted its stake in Gramercy Property Trust by 425.9% in the second quarter. Prudential Financial Inc. now owns 868,760 shares of the real estate investment trust’s stock worth $25,811,000 after buying an additional 703,579 shares during the last quarter. Finally, APG Asset Management US Inc. boosted its stake in Gramercy Property Trust by 38.9% in the second quarter. APG Asset Management US Inc. now owns 2,142,097 shares of the real estate investment trust’s stock worth $63,642,000 after buying an additional 600,000 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.
Gramercy Property Trust (NYSE GPT) traded down 1.00% on Monday, hitting $29.81. 744,083 shares of the company traded hands. The stock’s 50-day moving average is $30.07 and its 200 day moving average is $28.16. The firm has a market capitalization of $4.53 billion, a P/E ratio of 283.90 and a beta of 0.58. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $31.19.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.375 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 5.03%. Gramercy Property Trust’s dividend payout ratio is currently 1,666.85%.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/07/zacks-brokerages-expect-gramercy-property-trust-gpt-will-announce-earnings-of-0-55-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gramercy Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.