Citadel Advisors LLC Buys 1,765,998 Shares of Gramercy Property Trust (GPT)
Citadel Advisors LLC raised its stake in shares of Gramercy Property Trust (NYSE:GPT) by 1,551.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,879,807 shares of the real estate investment trust’s stock after purchasing an additional 1,765,998 shares during the period. Citadel Advisors LLC owned 1.24% of Gramercy Property Trust worth $55,849,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in GPT. Penserra Capital Management LLC grew its holdings in Gramercy Property Trust by 16.1% during the second quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $116,000 after purchasing an additional 542 shares during the period. Wittenberg Investment Management Inc. bought a new stake in Gramercy Property Trust during the second quarter valued at about $213,000. GW&K Investment Management LLC bought a new stake in Gramercy Property Trust during the second quarter valued at about $218,000. Karp Capital Management Corp bought a new stake in Gramercy Property Trust during the first quarter valued at about $256,000. Finally, Park Avenue Securities LLC bought a new stake in Gramercy Property Trust during the second quarter valued at about $258,000. 92.11% of the stock is owned by institutional investors and hedge funds.
GPT has been the subject of several recent research reports. Zacks Investment Research lowered Gramercy Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a report on Friday, September 1st. BidaskClub lowered Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Monday, July 3rd. Finally, TheStreet raised Gramercy Property Trust from a “c+” rating to a “b-” rating in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Gramercy Property Trust presently has an average rating of “Hold” and a consensus target price of $31.67.
In other news, insider Nicholas L. Pell sold 11,350 shares of the firm’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $29.53, for a total transaction of $335,165.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Benjamin P. Harris sold 9,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total value of $274,500.00. Following the sale, the president now owns 96,101 shares in the company, valued at $2,931,080.50. The disclosure for this sale can be found here. Insiders have sold a total of 25,350 shares of company stock worth $758,066 over the last 90 days. Insiders own 0.96% of the company’s stock.
Shares of Gramercy Property Trust (GPT) traded down 0.85% during trading on Friday, hitting $30.31. The stock had a trading volume of 394,578 shares. The firm has a market cap of $4.60 billion, a P/E ratio of 288.67 and a beta of 0.58. The firm has a 50 day moving average price of $29.84 and a 200 day moving average price of $28.81. Gramercy Property Trust has a 12-month low of $24.09 and a 12-month high of $31.19.
Gramercy Property Trust (NYSE:GPT) last posted its 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). Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The business had revenue of $131.40 million for the quarter, compared to analyst estimates of $136.30 million. During the same quarter last year, the business earned $0.18 earnings per share. Gramercy Property Trust’s revenue was down 5.7% on a year-over-year basis. On average, equities analysts expect that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.375 per share. 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 dividend payout ratio (DPR) is presently 1,666.85%.
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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