Gramercy Property Trust (GPT) Shares Bought by Palisade Capital Management LLC NJ
Palisade Capital Management LLC NJ increased its position in Gramercy Property Trust (NYSE:GPT) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 171,599 shares of the real estate investment trust’s stock after buying an additional 1,654 shares during the period. Palisade Capital Management LLC NJ’s holdings in Gramercy Property Trust were worth $5,098,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of GPT. Hartford Investment Management Co. bought a new stake in Gramercy Property Trust during the first quarter worth about $4,905,000. Credit Suisse AG bought a new stake in Gramercy Property Trust during the first quarter worth about $10,299,000. Raymond James Financial Services Advisors Inc. bought a new stake in Gramercy Property Trust during the first quarter worth about $357,000. Stratos Wealth Partners LTD. bought a new stake in Gramercy Property Trust during the first quarter worth about $375,000. Finally, Independent Advisor Alliance bought a new stake in Gramercy Property Trust during the first quarter worth about $357,000. 82.65% of the stock is owned by institutional investors.
Shares of Gramercy Property Trust (NYSE GPT) opened at 29.34 on Wednesday. The firm has a 50-day moving average of $30.01 and a 200 day moving average of $28.19. Gramercy Property Trust has a 1-year low of $24.09 and a 1-year high of $31.19. The company has a market capitalization of $4.46 billion, a P/E ratio of 279.43 and a beta of 0.58.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by $0.02. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. The business had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $136.30 million. During the same period in the previous year, the business earned $0.18 earnings per share. The business’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts anticipate that Gramercy Property Trust will post ($0.11) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders 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 dividend yield of 5.11%. Gramercy Property Trust’s payout ratio is currently 1,666.85%.
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A number of analysts have recently issued reports on GPT shares. Zacks Investment Research downgraded shares of Gramercy Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, May 3rd. BidaskClub downgraded shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Compass Point reaffirmed a “buy” rating and set a $34.00 price objective (up from $30.00) on shares of Gramercy Property Trust in a report on Monday, June 19th. Finally, TheStreet downgraded shares of Gramercy Property Trust from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.50.
In other Gramercy Property Trust news, insider Nicholas L. Pell sold 11,350 shares of Gramercy Property Trust 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin P. Harris sold 5,000 shares of Gramercy Property Trust stock in a transaction on Friday, June 30th. The stock was sold at an average price of $29.68, for a total transaction of $148,400.00. The disclosure for this sale can be found here. Company insiders own 1.36% of the company’s stock.
Gramercy Property Trust Company Profile
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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