$137.37 Million in Sales Expected for Gramercy Property Trust (GPT) This Quarter
Analysts expect that Gramercy Property Trust (NYSE:GPT) will post $137.37 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Gramercy Property Trust’s earnings, with the highest sales estimate coming in at $148.72 million and the lowest estimate coming in at $125.92 million. Gramercy Property Trust reported sales of $131.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The business is scheduled to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Gramercy Property Trust will report full year sales of $137.37 million for the current year, with estimates ranging from $508.90 million to $559.40 million. For the next year, analysts anticipate that the business will report sales of $580.94 million per share, with estimates ranging from $510.59 million to $645.52 million. Zacks Investment Research’s sales averages 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 announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $131.40 million for the quarter, compared to analyst estimates of $136.30 million. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. Gramercy Property Trust’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.18 earnings per share.
Several equities research analysts have issued reports on GPT shares. Zacks Investment Research lowered shares of Gramercy Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. BidaskClub lowered shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. TheStreet raised shares of Gramercy Property Trust from a “c+” rating to a “b-” rating in a report on Monday, June 12th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, August 2nd. Finally, 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 report on Monday, June 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Gramercy Property Trust has an average rating of “Hold” and an average price target of $33.50.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 5,000 shares of the business’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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicholas L. Pell sold 11,350 shares of the business’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. Insiders own 1.36% of the company’s stock.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised 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 valued at $321,267,000 after buying an additional 11,219,518 shares during the last quarter. Principal Financial Group Inc. raised its stake in Gramercy Property Trust by 160.2% in the second quarter. Principal Financial Group Inc. now owns 3,539,442 shares of the real estate investment trust’s stock valued at $105,158,000 after buying an additional 2,178,912 shares during the last quarter. APG Asset Management US Inc. raised 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 valued at $63,642,000 after buying an additional 600,000 shares during the last quarter. Victory Capital Management Inc. raised 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 valued at $37,591,000 after buying an additional 1,264,392 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. purchased a new stake in Gramercy Property Trust during the first quarter valued at $30,731,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.
Gramercy Property Trust (NYSE GPT) opened at 29.34 on Wednesday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 279.43 and a beta of 0.58. Gramercy Property Trust has a one year low of $24.09 and a one year high of $31.19. The firm’s 50-day moving average is $30.01 and its 200 day moving average is $28.19.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 5.11%. The ex-dividend date is Thursday, September 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is presently 1,666.85%.
TRADEMARK VIOLATION WARNING: “$137.37 Million in Sales Expected for Gramercy Property Trust (GPT) This Quarter” was originally posted by Daily Political and is owned by of Daily Political. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/09/137-37-million-in-sales-expected-for-gramercy-property-trust-gpt-this-quarter.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.