Gramercy Property Trust (GPT) Lowered to “Sell” at Zacks Investment Research
Gramercy Property Trust (NYSE:GPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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. “
Other equities research analysts also recently issued research reports about the company. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. SunTrust Banks set a $30.00 target price on Gramercy Property Trust and gave the stock a “hold” rating in a report on Tuesday, October 31st. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.25.
Shares of Gramercy Property Trust (NYSE:GPT) traded up $0.14 during midday trading on Tuesday, reaching $26.87. The company’s stock had a trading volume of 1,640,663 shares, compared to its average volume of 1,086,700. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $4,340.00, a P/E ratio of 62.49, a PEG ratio of 1.79 and a beta of 0.54. Gramercy Property Trust has a fifty-two week low of $25.21 and a fifty-two week high of $31.26.
Gramercy Property Trust (NYSE:GPT) last issued 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 business had revenue of $134.90 million during 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 was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.16 EPS. analysts expect that Gramercy Property Trust will post 2.05 EPS for the current year.
In related 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 transaction of $170,296.83. Following the completion of the sale, the president now owns 89,730 shares of the company’s stock, valued at $2,398,482.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.36% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in GPT. Schwab Charles Investment Management Inc. raised its position in Gramercy Property Trust by 9.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 952,882 shares of the real estate investment trust’s stock valued at $28,311,000 after acquiring an additional 82,011 shares in the last quarter. SG Americas Securities LLC raised its position in Gramercy Property Trust by 21.5% during the second quarter. SG Americas Securities LLC now owns 10,151 shares of the real estate investment trust’s stock valued at $302,000 after acquiring an additional 1,794 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Gramercy Property Trust by 10.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 45,847 shares of the real estate investment trust’s stock valued at $1,362,000 after acquiring an additional 4,369 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Gramercy Property Trust by 14.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,301 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Swiss National Bank raised its position in Gramercy Property Trust by 7.6% during the second quarter. Swiss National Bank now owns 250,484 shares of the real estate investment trust’s stock valued at $7,442,000 after acquiring an additional 17,800 shares in the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.
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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