Zacks Investment Research upgraded shares of Gramercy Property Trust (NYSE:GPT) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Chambers Street Properties is a real estate investment trust. It acquires, owns and operates commercial real estate such as warehouse, logistics properties and office buildings. The Company’s properties are situated primarily in the United States and Europe. Chambers Street Properties is headquartered in Princeton, New Jersey. “
A number of other research analysts also recently weighed in on GPT. SunTrust Banks set a $30.00 target price on Gramercy Property Trust and gave the stock a hold rating in a report on Tuesday, October 31st. Ladenburg Thalmann Financial Services restated a buy rating on shares of Gramercy Property Trust in a research note on Wednesday, November 1st. Finally, ValuEngine upgraded Gramercy Property Trust from a hold rating to a buy rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $31.25.
Gramercy Property Trust (NYSE:GPT) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. The firm had revenue of $134.90 million for the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter last year, the company posted $0.16 EPS. The firm’s revenue was up 2.9% on a year-over-year basis. research analysts forecast that Gramercy Property Trust will post 2.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 annualized dividend and a dividend yield of 5.69%. Gramercy Property Trust’s payout ratio is currently 348.84%.
In related news, President Benjamin P. Harris sold 6,371 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $26.73, for a total value of $170,296.83. Following the sale, the president now owns 89,730 shares in the company, valued at approximately $2,398,482.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.96% of the company’s stock.
Several institutional investors have recently bought and sold shares of GPT. JPMorgan Chase & Co. grew its stake in shares of Gramercy Property Trust by 389,160.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,764,543 shares of the real estate investment trust’s stock worth $141,554,000 after buying an additional 4,763,319 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Gramercy Property Trust in the 3rd quarter worth approximately $57,141,000. Citadel Advisors LLC grew its stake in shares of Gramercy Property Trust by 1,551.7% in the 2nd quarter. Citadel Advisors LLC now owns 1,879,807 shares of the real estate investment trust’s stock worth $55,849,000 after buying an additional 1,765,998 shares during the last quarter. Vanguard Group Inc. boosted its stake in Gramercy Property Trust by 6.5% during the 2nd quarter. Vanguard Group Inc. now owns 23,462,198 shares of the real estate investment trust’s stock valued at $697,062,000 after purchasing an additional 1,437,301 shares during the last quarter. Finally, Cbre Clarion Securities LLC purchased a new stake in Gramercy Property Trust during the 2nd quarter valued at $40,893,000. Institutional investors own 91.99% of the company’s stock.
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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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