Gramercy Property Trust (GPT) Shares Bought by Nationwide Fund Advisors
Nationwide Fund Advisors grew its position in Gramercy Property Trust (NYSE:GPT) by 13.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 458,907 shares of the real estate investment trust’s stock after acquiring an additional 55,555 shares during the quarter. Nationwide Fund Advisors owned approximately 0.30% of Gramercy Property Trust worth $13,634,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GPT. Penserra Capital Management LLC increased its holdings in shares of Gramercy Property Trust by 16.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 542 shares during the last quarter. GW&K Investment Management LLC bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at approximately $218,000. Karp Capital Management Corp bought a new stake in shares of Gramercy Property Trust in the 1st quarter valued at approximately $256,000. Park Avenue Securities LLC bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at approximately $258,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at approximately $264,000. Institutional investors and hedge funds own 92.11% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a report on Friday, September 1st. ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price target on shares of Gramercy Property Trust in a report on Tuesday, August 22nd. Bank of America Corporation downgraded Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Wednesday, August 16th. Finally, BidaskClub downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Two equities 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 stock. Gramercy Property Trust presently has an average rating of “Hold” and an average price target of $31.67.
In other news, President Benjamin P. Harris sold 9,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total value of $274,500.00. Following the completion of the transaction, the president now directly 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 SEC, which is available at this link. Also, insider Nicholas L. Pell sold 11,350 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $29.53, for a total value of $335,165.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,350 shares of company stock valued at $758,066. Insiders own 0.96% of the company’s stock.
Gramercy Property Trust (NYSE:GPT) opened at 30.31 on Friday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 288.67 and a beta of 0.58. Gramercy Property Trust has a 52-week low of $24.09 and a 52-week high of $31.19. The company’s 50-day moving average price is $29.84 and its 200-day moving average price is $28.81.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $136.30 million. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the company earned $0.18 EPS. Analysts predict that Gramercy Property Trust will post ($0.11) EPS for the current year.
The company 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. The ex-dividend date is Thursday, September 28th. This represents a $1.50 annualized dividend and a yield of 4.95%. Gramercy Property Trust’s dividend payout ratio (DPR) is 1,666.85%.
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Gramercy Property Trust 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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