Gramercy Property Trust (NYSE:GPT) has been assigned an average recommendation of “Hold” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.60.
Several research analysts 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 research report on Wednesday, November 15th. SunTrust Banks set a $28.00 price target on shares of Gramercy Property Trust and gave the stock a “hold” rating in a research report on Monday, January 22nd. ValuEngine cut Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Royal Bank of Canada set a $26.00 price objective on Gramercy Property Trust and gave the stock a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $25.00 price objective (down from $31.00) on shares of Gramercy Property Trust in a report on Thursday, March 1st.
Gramercy Property Trust (GPT) opened at $22.42 on Friday. The stock has a market cap of $3,604.75, a PE ratio of 43.96, a P/E/G ratio of 2.42 and a beta of 0.59. The company has a current ratio of 0.21, a quick ratio of 0.24 and a debt-to-equity ratio of 0.75. Gramercy Property Trust has a 52-week low of $21.12 and a 52-week high of $31.26.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.50 annualized dividend and a yield of 6.69%. Gramercy Property Trust’s dividend payout ratio is currently 294.12%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 6,371 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $26.73, for a total transaction of $170,296.83. Following the completion of the sale, the president now directly owns 89,730 shares of the company’s stock, valued at approximately $2,398,482.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.96% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Real Estate Management Services LLC bought a new stake in shares of Gramercy Property Trust in the 4th quarter valued at about $2,741,000. Legal & General Group Plc increased its stake in shares of Gramercy Property Trust by 12.5% in the 3rd quarter. Legal & General Group Plc now owns 444,235 shares of the real estate investment trust’s stock valued at $13,437,000 after acquiring an additional 49,192 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Gramercy Property Trust by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,582,234 shares of the real estate investment trust’s stock valued at $108,362,000 after acquiring an additional 42,792 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Gramercy Property Trust by 1.3% in the 3rd quarter. Wells Fargo & Company MN now owns 2,361,260 shares of the real estate investment trust’s stock valued at $71,429,000 after acquiring an additional 29,440 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of Gramercy Property Trust by 8.1% in the 3rd quarter. American International Group Inc. now owns 101,482 shares of the real estate investment trust’s stock valued at $3,070,000 after acquiring an additional 7,588 shares during the last quarter. 90.46% of the stock is owned by institutional investors.
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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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