Gramercy Property Trust (GPT) Raised to Buy at ValuEngine

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.

Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $134.90 million for the quarter, compared to analyst estimates of $135.45 million. Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. Gramercy Property Trust’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. sell-side analysts predict that Gramercy Property Trust will post 2.07 earnings per share for the current year.

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.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gramercy Property Trust (NYSE:GPT)

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