Gramercy Property Trust (NYSE:GPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Chambers Street Properties is a real estate investment trust. It acquires, owns and operates commercial real estate such as warehouse, logistics properties and office buildings. The Company’s properties are situated primarily in the United States and Europe. Chambers Street Properties is headquartered in Princeton, New Jersey. “
GPT has been the subject of a number of other reports. SunTrust Banks set a $28.00 target price on Gramercy Property Trust and gave the company a “hold” rating in a report on Monday, January 22nd. ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $30.75.
In other news, President Benjamin P. Harris sold 6,371 shares of Gramercy Property Trust stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $26.73, for a total value of $170,296.83. Following the completion of the transaction, the president now owns 89,730 shares in the company, valued at approximately $2,398,482.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.36% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Gramercy Property Trust in the 3rd quarter valued at about $214,000. Cetera Investment Advisers purchased a new stake in Gramercy Property Trust during the second quarter worth approximately $215,000. Tudor Investment Corp ET AL purchased a new stake in Gramercy Property Trust during the second quarter worth approximately $226,000. Neuberger Berman Group LLC purchased a new stake in Gramercy Property Trust during the third quarter worth approximately $232,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Gramercy Property Trust during the third quarter worth approximately $251,000. Institutional investors and hedge funds own 92.19% of the company’s stock.
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About Gramercy Property Trust
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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