State of New Jersey Common Pension Fund D cut its stake in Gramercy Property Trust (NYSE:GPT) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 516,273 shares of the real estate investment trust’s stock after selling 25,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.32% of Gramercy Property Trust worth $15,617,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GPT. Karp Capital Management Corp purchased a new position in Gramercy Property Trust in the first quarter valued at about $256,000. BlackRock Inc. raised its position in Gramercy Property Trust by 1,126.6% in the first quarter. BlackRock Inc. now owns 12,215,404 shares of the real estate investment trust’s stock valued at $321,267,000 after purchasing an additional 11,219,518 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Gramercy Property Trust in the first quarter valued at about $315,000. Credit Suisse AG purchased a new position in Gramercy Property Trust in the first quarter valued at about $10,299,000. Finally, Public Employees Retirement System of Ohio raised its position in Gramercy Property Trust by 0.4% in the first quarter. Public Employees Retirement System of Ohio now owns 58,547 shares of the real estate investment trust’s stock valued at $1,540,000 after purchasing an additional 209 shares during the period. 87.01% of the stock is currently owned by institutional investors.
In related news, President Benjamin P. Harris sold 9,000 shares of the company’s stock in a transaction 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 directly owns 96,101 shares in the company, valued at $2,931,080.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.36% of the company’s stock.
GPT has been the topic of several research reports. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a research report on Friday, September 1st. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and issued a $31.00 price objective on shares of Gramercy Property Trust in a research report on Tuesday, August 22nd. BidaskClub raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Finally, TheStreet lowered Gramercy Property Trust from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Gramercy Property Trust presently has an average rating of “Hold” and a consensus price target of $31.67.
Shares of Gramercy Property Trust (GPT) opened at 29.81 on Tuesday. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 283.90 and a beta of 0.58. The stock’s 50 day moving average price is $30.53 and its 200-day moving average price is $29.70. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $31.26.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.02). The business had revenue of $131.40 million during the quarter, compared to the consensus estimate of $136.30 million. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 earnings per share. Equities analysts forecast that Gramercy Property Trust will post ($0.11) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend was Thursday, September 28th. Gramercy Property Trust’s dividend payout ratio is presently 1,666.85%.
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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