Gramercy Property Trust (GPT) Position Lifted by D.A. Davidson & CO.
D.A. Davidson & CO. boosted its position in Gramercy Property Trust (NYSE:GPT) by 703.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,784 shares of the real estate investment trust’s stock after acquiring an additional 50,591 shares during the quarter. D.A. Davidson & CO.’s holdings in Gramercy Property Trust were worth $1,716,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Citigroup Inc. increased its stake in Gramercy Property Trust by 30.0% in the second quarter. Citigroup Inc. now owns 89,881 shares of the real estate investment trust’s stock valued at $2,670,000 after acquiring an additional 20,756 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in Gramercy Property Trust by 10.1% in the second quarter. UBS Asset Management Americas Inc. now owns 303,626 shares of the real estate investment trust’s stock valued at $9,021,000 after acquiring an additional 27,920 shares during the last quarter. Teachers Insurance & Annuity Association of America increased its stake in Gramercy Property Trust by 4.4% in the second quarter. Teachers Insurance & Annuity Association of America now owns 150,155 shares of the real estate investment trust’s stock valued at $4,461,000 after acquiring an additional 6,285 shares during the last quarter. Kempen Capital Management N.V. bought a new position in Gramercy Property Trust in the second quarter valued at approximately $1,223,000. Finally, Profund Advisors LLC increased its stake in Gramercy Property Trust by 8.0% in the second quarter. Profund Advisors LLC now owns 11,244 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 832 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, President Benjamin P. Harris sold 9,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total value of $274,500.00. Following the transaction, the president now owns 96,101 shares of the company’s stock, valued at approximately $2,931,080.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin P. Harris sold 5,000 shares of the 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. Insiders sold a total of 25,350 shares of company stock worth $758,066 in the last three months. Insiders own 0.96% of the company’s stock.
A number of research firms have weighed in on GPT. Bank of America Corporation cut shares of Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Wednesday, August 16th. JMP Securities cut shares of Gramercy Property Trust from a “market outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, August 2nd. TheStreet raised shares of Gramercy Property Trust from a “c+” rating to a “b-” rating in a research note on Monday, June 12th. Finally, ValuEngine raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $31.67.
Shares of Gramercy Property Trust (NYSE:GPT) opened at 30.31 on Friday. The company has a market cap of $4.60 billion, a PE ratio of 288.67 and a beta of 0.58. The firm’s 50 day moving average is $29.84 and its 200-day moving average is $28.81. Gramercy Property Trust has a 1-year low of $24.09 and a 1-year high of $31.19.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.02). The company had revenue of $131.40 million during 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%. Gramercy Property Trust’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. Equities analysts expect that Gramercy Property Trust will post ($0.11) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, September 28th. Gramercy Property Trust’s payout ratio is 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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