Gramercy Property Trust (NYSE:GPT) declared a quarterly dividend on Wednesday, February 28th, Zacks reports. Shareholders of record on Friday, March 30th will be paid a dividend of 0.375 per share by the real estate investment trust on Monday, April 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date is Wednesday, March 28th.

Gramercy Property Trust has decreased its dividend by an average of 11.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Gramercy Property Trust has a dividend payout ratio of 73.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Gramercy Property Trust to earn $2.09 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 71.8%.

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Gramercy Property Trust (NYSE GPT) traded down $0.27 during trading on Friday, hitting $21.69. The company had a trading volume of 397,602 shares, compared to its average volume of 1,530,532. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.21 and a quick ratio of 0.21. Gramercy Property Trust has a fifty-two week low of $21.12 and a fifty-two week high of $31.26. The company has a market capitalization of $3,554.91, a PE ratio of 42.59, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings results on Wednesday, February 28th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.52. Gramercy Property Trust had a return on equity of 2.93% and a net margin of 15.64%. The business had revenue of $149.00 million during the quarter, compared to analysts’ expectations of $139.00 million. During the same period in the previous year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. equities analysts predict that Gramercy Property Trust will post 2.05 EPS for the current fiscal year.

In other news, President Benjamin P. Harris sold 6,371 shares of the business’s 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 transaction, the president now directly owns 89,730 shares in the company, valued at approximately $2,398,482.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.96% of the stock is currently owned by insiders.

GPT has been the subject of a number of research analyst reports. SunTrust Banks set a $28.00 price target on Gramercy Property Trust and gave the company a “hold” rating in a report on Monday, January 22nd. Zacks Investment Research upgraded Gramercy Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine lowered Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Royal Bank of Canada set a $26.00 target price on Gramercy Property Trust and gave the stock a “hold” rating in a research report on Wednesday, March 7th. Finally, Stifel Nicolaus restated a “buy” rating and set a $25.00 target price (down from $31.00) on shares of Gramercy Property Trust in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Gramercy Property Trust has an average rating of “Hold” and an average price target of $28.60.

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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.

Dividend History for Gramercy Property Trust (NYSE:GPT)

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