ValuEngine upgraded shares of Gramercy Property Trust (NYSE:GPT) from a hold rating to a buy rating in a research note published on Thursday, November 9th.
GPT has been the topic of a number of other reports. Zacks Investment Research cut Gramercy Property Trust from a hold rating to a sell rating in a research report on Wednesday, July 26th. TheStreet lowered shares of Gramercy Property Trust from a b- rating to a c rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Gramercy Property Trust from a buy rating to a hold rating in a research note on Monday, August 14th. Ladenburg Thalmann Financial Services reissued a buy rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. Finally, Stifel Nicolaus reissued a buy rating and issued a $31.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $31.25.
Gramercy Property Trust (NYSE GPT) traded down $0.20 during midday trading on Thursday, hitting $28.60. The company had a trading volume of 1,090,854 shares, compared to its average volume of 947,817. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.24 and a current ratio of 0.24. Gramercy Property Trust has a 52-week low of $24.90 and a 52-week high of $31.26. The firm has a market cap of $4,688.37, a P/E ratio of 14.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 annualized dividend and a yield of 5.24%. Gramercy Property Trust’s dividend payout ratio (DPR) is presently 340.92%.
In related news, President Benjamin P. Harris sold 9,000 shares of Gramercy Property Trust stock in a transaction that occurred 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 completion of the sale, the president now owns 96,101 shares in the company, valued at approximately $2,931,080.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of GPT. Credit Suisse AG purchased a new stake in shares of Gramercy Property Trust during the 1st quarter worth $10,299,000. JPMorgan Chase & Co. lifted its position in shares of Gramercy Property Trust by 389,160.0% during 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 purchasing an additional 4,763,319 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Gramercy Property Trust by 425.9% during the 2nd quarter. Prudential Financial Inc. now owns 868,760 shares of the real estate investment trust’s stock worth $25,811,000 after purchasing an additional 703,579 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Gramercy Property Trust by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 1,069,749 shares of the real estate investment trust’s stock valued at $31,782,000 after acquiring an additional 48,313 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new stake in Gramercy Property Trust in the second quarter valued at $4,020,000. Institutional investors and hedge funds own 92.29% of the company’s stock.
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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