Gramercy Property Trust (GPT) to Issue $0.38 Quarterly Dividend
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%.
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.
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.
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.
Receive News & Ratings for Gramercy Property Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gramercy Property Trust and related companies with MarketBeat.com's FREE daily email newsletter.