Gramercy Property Trust (GPT) Lowered to “Sell” at Zacks Investment Research

Gramercy Property Trust (NYSE:GPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

Several other brokerages have also recently weighed in on GPT. SunTrust Banks, Inc. set a $30.00 price target on shares of Gramercy Property Trust and gave the stock a “hold” rating in a research report on Tuesday, October 31st. ValuEngine upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. BidaskClub upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. TheStreet cut shares of Gramercy Property Trust from a “b-” rating to a “c” rating in a research report on Tuesday, August 1st. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Gramercy Property Trust has a consensus rating of “Hold” and a consensus target price of $31.25.

Shares of Gramercy Property Trust (NYSE:GPT) traded down $0.25 on Wednesday, reaching $28.65. 1,010,900 shares of the company traded hands, compared to its average volume of 957,641. Gramercy Property Trust has a 12 month low of $24.75 and a 12 month high of $31.26. The company has a market capitalization of $4,714.07, a PE ratio of 14.60, a PEG ratio of 2.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.24 and a quick ratio of 0.24.

Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. The business had revenue of $134.90 million during the quarter, compared to the consensus estimate of $135.45 million. During the same quarter in the prior year, the firm posted $0.16 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts anticipate that Gramercy Property Trust will post 2.07 earnings per share for the current year.

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In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total transaction of $274,500.00. Following the transaction, the president now owns 96,101 shares in the company, valued at $2,931,080.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Gramercy Property Trust by 389,160.0% during 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 acquiring an additional 4,763,319 shares during the last quarter. Bank of New York Mellon Corp increased its position in Gramercy Property Trust by 4.7% during 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 acquiring an additional 48,313 shares during the last quarter. Prudential Financial Inc. grew its holdings 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 worth $25,811,000 after purchasing an additional 703,579 shares during the last quarter. BT Investment Management Ltd bought a new position in shares of Gramercy Property Trust in the second quarter worth about $4,020,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Gramercy Property Trust by 0.4% in the first quarter. Public Employees Retirement System of Ohio now owns 58,547 shares of the real estate investment trust’s stock worth $1,540,000 after purchasing an additional 209 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company’s stock.

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.

Analyst Recommendations for Gramercy Property Trust (NYSE:GPT)

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