Gramercy Property Trust (GPT) Shares Sold by IFP Advisors Inc
IFP Advisors Inc reduced its stake in Gramercy Property Trust (NYSE:GPT) by 2.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,024 shares of the real estate investment trust’s stock after selling 1,867 shares during the period. IFP Advisors Inc owned approximately 0.05% of Gramercy Property Trust worth $2,360,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Credit Suisse AG bought a new stake in shares of Gramercy Property Trust in the first quarter valued at approximately $10,299,000. JPMorgan Chase & Co. boosted its stake in shares of Gramercy Property Trust by 389,160.0% in the second 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 during the period. Bank of New York Mellon Corp boosted its stake in shares of Gramercy Property Trust by 4.7% in the second 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 during the period. Prudential Financial Inc. boosted its stake in shares of Gramercy Property Trust by 425.9% in the second 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 during the period. Finally, BT Investment Management Ltd bought a new stake in shares of Gramercy Property Trust in the second quarter valued at approximately $4,020,000. Institutional investors and hedge funds own 87.01% of the company’s stock.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.69%. The business had revenue of $134.90 million during the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a yield of 5.16%. Gramercy Property Trust’s dividend payout ratio is 340.92%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the firm’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 transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is owned by company insiders.
Several equities research analysts recently issued reports on the company. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, August 2nd. ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Gramercy Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. JMP Securities cut Gramercy Property Trust from a “market outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Finally, BidaskClub upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $31.25.
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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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