Zacks Investment Research Lowers Gramercy Property Trust (GPT) to Sell
Zacks Investment Research cut shares of Gramercy Property Trust (NYSE:GPT) from a hold rating to a sell rating in a report issued on Wednesday morning.
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. “
GPT has been the subject of several other reports. Ladenburg Thalmann Financial Services restated a buy rating on shares of Gramercy Property Trust in a research note on Wednesday, May 3rd. BidaskClub cut Gramercy Property Trust from a buy rating to a hold rating in a research report on Tuesday, June 20th. Compass Point reiterated a buy rating and set a $34.00 price target (up from $30.00) on shares of Gramercy Property Trust in a research report on Monday, June 19th. TheStreet cut Gramercy Property Trust from a b- rating to a c+ rating in a research report on Friday, March 31st. Finally, ValuEngine upgraded Gramercy Property Trust from a hold rating to a buy rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $33.33.
Shares of Gramercy Property Trust (NYSE GPT) opened at 30.18 on Wednesday. Gramercy Property Trust has a 1-year low of $24.09 and a 1-year high of $31.19. The firm’s 50 day moving average price is $30.10 and its 200-day moving average price is $28.10. The company has a market capitalization of $4.58 billion, a P/E ratio of 118.82 and a beta of 0.58.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51. Gramercy Property Trust had a return on equity of 1.59% and a net margin of 8.24%. The firm had revenue of $129.99 million during the quarter, compared to analysts’ expectations of $126.88 million. Analysts expect that Gramercy Property Trust will post ($0.11) EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Wednesday, June 28th. Gramercy Property Trust’s dividend payout ratio is currently 652.15%.
In related news, insider Nicholas L. Pell sold 11,350 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $29.53, for a total transaction of $335,165.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin P. Harris sold 5,000 shares of Gramercy Property Trust stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $29.68, for a total value of $148,400.00. The disclosure for this sale can be found here. 0.96% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of GPT. Gerber Kawasaki Wealth & Investment Management acquired a new stake in Gramercy Property Trust during the first quarter worth $705,000. Capital Analysts LLC acquired a new stake in Gramercy Property Trust during the first quarter worth $139,000. Strs Ohio acquired a new stake in Gramercy Property Trust during the first quarter worth $6,668,000. Creative Planning acquired a new stake in Gramercy Property Trust during the first quarter worth $345,000. Finally, Financial Consulate Inc. acquired a new stake in Gramercy Property Trust during the first quarter worth $225,000. 81.62% of the stock is currently owned by institutional investors.
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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