Traders sold shares of Gramercy Property Trust (NYSE:GPT) on strength during trading hours on Wednesday. $5.74 million flowed into the stock on the tick-up and $53.84 million flowed out of the stock on the tick-down, for a money net flow of $48.10 million out of the stock. Of all equities tracked, Gramercy Property Trust had the 12th highest net out-flow for the day. Gramercy Property Trust traded up $0.02 for the day and closed at $30.68
A number of equities analysts recently issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $31.00 target price on shares of Gramercy Property Trust in a report on Tuesday, August 22nd. BidaskClub cut Gramercy Property Trust from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. JMP Securities cut Gramercy Property Trust from a “market outperform” rating to a “market perform” rating in a report on Monday, July 17th. Bank of America Corporation cut Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Wednesday, August 16th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.67.
The stock has a 50-day moving average price of $30.30 and a 200 day moving average price of $29.30. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 292.19 and a beta of 0.58.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.02). The company had revenue of $131.40 million during the quarter, compared to analyst estimates of $136.30 million. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. On average, equities analysts anticipate that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, September 28th. Gramercy Property Trust’s dividend payout ratio (DPR) is currently 1,666.85%.
In other news, President Benjamin P. Harris sold 9,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total value of $274,500.00. Following the transaction, the president now owns 96,101 shares of the company’s stock, valued at approximately $2,931,080.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.36% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Credit Suisse AG bought a new stake in shares of Gramercy Property Trust in the 1st quarter valued at $10,299,000. JPMorgan Chase & Co. increased its position 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 valued at $141,554,000 after buying an additional 4,763,319 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Gramercy Property Trust by 4.7% in the 2nd 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 buying an additional 48,313 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Gramercy Property Trust in the 1st quarter valued at $357,000. Finally, Prudential Financial Inc. increased its position in shares of Gramercy Property Trust by 425.9% in the 2nd quarter. Prudential Financial Inc. now owns 868,760 shares of the real estate investment trust’s stock valued at $25,811,000 after buying an additional 703,579 shares in the last quarter. 87.09% of the stock is currently owned by institutional investors.
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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