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%.

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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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Earnings History and Estimates for Gramercy Property Trust (NYSE:GPT)

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