Sterling Capital Management LLC Acquires New Position in Gramercy Property Trust (GPT)
Sterling Capital Management LLC acquired a new position in Gramercy Property Trust (NYSE:GPT) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 98,000 shares of the real estate investment trust’s stock, valued at approximately $2,912,000. Sterling Capital Management LLC owned 0.06% of Gramercy Property Trust at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its stake in Gramercy Property Trust by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,286 shares of the real estate investment trust’s stock worth $395,000 after acquiring an additional 1,388 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Gramercy Property Trust by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 116,194 shares of the real estate investment trust’s stock worth $3,453,000 after acquiring an additional 7,529 shares during the period. State Street Corp lifted its stake in Gramercy Property Trust by 9.4% in the second quarter. State Street Corp now owns 3,895,312 shares of the real estate investment trust’s stock worth $115,732,000 after acquiring an additional 334,865 shares during the period. Cornerstone Capital Management Holdings LLC. lifted its stake in Gramercy Property Trust by 4.6% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 71,865 shares of the real estate investment trust’s stock worth $2,135,000 after acquiring an additional 3,183 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in Gramercy Property Trust in the second quarter worth about $4,702,000. 86.80% of the stock is owned by institutional investors.
A number of research firms recently weighed in on GPT. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. ValuEngine raised shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $31.00 price target on shares of Gramercy Property Trust in a research report on Tuesday, August 22nd. Bank of America Corporation lowered shares of Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price target for the company. in a research report on Wednesday, August 16th. Finally, BidaskClub lowered shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.67.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction that occurred on 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 owns 96,101 shares in the company, valued at $2,931,080.50. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.36% of the stock is currently owned by insiders.
Shares of Gramercy Property Trust (GPT) traded down 0.03% during trading on Monday, hitting $31.09. 99,202 shares of the company traded hands. Gramercy Property Trust has a 52-week low of $24.09 and a 52-week high of $31.26. The company has a 50-day moving average of $30.47 and a 200-day moving average of $29.42. The stock has a market capitalization of $4.72 billion, a PE ratio of 296.10 and a beta of 0.58.
Gramercy Property Trust (NYSE:GPT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The business had revenue of $131.40 million for the quarter, compared to analysts’ expectations of $136.30 million. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. Gramercy Property Trust’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. Equities analysts expect that Gramercy Property Trust will post ($0.11) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, September 28th. Gramercy Property Trust’s dividend payout ratio is currently 1,666.85%.
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Gramercy Property Trust Company 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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