Cannell Peter B & Co. Inc. Cuts Stake in Gramercy Property Trust (GPT)
Cannell Peter B & Co. Inc. lessened its position in shares of Gramercy Property Trust (NYSE:GPT) by 15.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 651,039 shares of the real estate investment trust’s stock after selling 119,022 shares during the quarter. Cannell Peter B & Co. Inc. owned approximately 0.41% of Gramercy Property Trust worth $19,694,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in GPT. Public Employees Retirement System of Ohio raised its stake in shares of Gramercy Property Trust by 0.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 58,547 shares of the real estate investment trust’s stock worth $1,540,000 after buying an additional 209 shares during the last quarter. Bank of Montreal Can grew its holdings in Gramercy Property Trust by 200.8% in the 2nd quarter. Bank of Montreal Can now owns 22,506 shares of the real estate investment trust’s stock valued at $669,000 after buying an additional 15,023 shares during the period. Aperio Group LLC grew its holdings in Gramercy Property Trust by 18.8% in the 2nd quarter. Aperio Group LLC now owns 11,546 shares of the real estate investment trust’s stock valued at $343,000 after buying an additional 1,827 shares during the period. Forsta AP Fonden grew its holdings in Gramercy Property Trust by 191.7% in the 2nd quarter. Forsta AP Fonden now owns 56,300 shares of the real estate investment trust’s stock valued at $1,673,000 after buying an additional 37,000 shares during the period. Finally, APG Asset Management US Inc. grew its holdings in shares of Gramercy Property Trust by 38.9% during the 2nd quarter. APG Asset Management US Inc. now owns 2,142,097 shares of the real estate investment trust’s stock worth $63,642,000 after purchasing an additional 600,000 shares during the period. 88.62% of the stock is owned by institutional investors and hedge funds.
GPT has been the subject of a number of research reports. ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, November 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $31.00 target price 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 analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Gramercy Property Trust presently has an average rating of “Hold” and an average target price of $31.25.
Shares of Gramercy Property Trust (NYSE:GPT) traded up $0.05 during mid-day trading on Tuesday, reaching $28.84. The company had a trading volume of 449,900 shares, compared to its average volume of 953,913. Gramercy Property Trust has a fifty-two week low of $24.90 and a fifty-two week high of $31.26. The company has a market capitalization of $4,640.00, a PE ratio of 14.32, a P/E/G ratio of 1.99 and a beta of 0.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.24 and a quick ratio of 0.24.
Gramercy Property Trust (NYSE:GPT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The firm had revenue of $134.90 million for the quarter, compared to the consensus estimate of $135.45 million. During the same period in the prior year, the business earned $0.16 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. sell-side analysts expect that Gramercy Property Trust will post 2.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Thursday, December 28th. Gramercy Property Trust’s dividend payout ratio is 348.84%.
In related news, President Benjamin P. Harris sold 9,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was 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 of the company’s stock, valued at approximately $2,931,080.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.36% of the stock is currently owned by corporate insiders.
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Gramercy Property Trust 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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