Stevens Capital Management LP bought a new position in Gramercy Property Trust (NYSE:GPT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,514 shares of the real estate investment trust’s stock, valued at approximately $409,000.
Several other hedge funds and other institutional investors also recently modified their holdings of GPT. Penserra Capital Management LLC grew its holdings in shares of Gramercy Property Trust by 16.1% in the 2nd quarter. Penserra Capital Management LLC now owns 3,914 shares of the real estate investment trust’s stock worth $116,000 after acquiring an additional 542 shares during the last quarter. Sii Investments Inc. WI acquired a new position in shares of Gramercy Property Trust in the 2nd quarter worth $208,000. Wittenberg Investment Management Inc. acquired a new position in shares of Gramercy Property Trust in the 2nd quarter worth $213,000. Cetera Investment Advisers acquired a new position in shares of Gramercy Property Trust in the 2nd quarter worth $215,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Gramercy Property Trust in the 2nd quarter worth $226,000. Institutional investors and hedge funds own 92.23% of the company’s stock.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $2,931,080.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by insiders.
A number of brokerages recently issued reports on GPT. Bank of America cut Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Wednesday, August 16th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, November 1st. SunTrust Banks set a $30.00 price target on Gramercy Property Trust and gave the company a “hold” rating in a report on Tuesday, October 31st. BidaskClub upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.25.
Shares of Gramercy Property Trust (GPT) traded down $0.17 during midday trading on Monday, reaching $28.37. The company’s stock had a trading volume of 706,182 shares, compared to its average volume of 945,762. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.76. Gramercy Property Trust has a 1 year low of $24.90 and a 1 year high of $31.26. The stock has a market capitalization of $4,570.00, a P/E ratio of 14.20, a P/E/G ratio of 1.99 and a beta of 0.54.
Gramercy Property Trust (NYSE:GPT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Gramercy Property Trust had a net margin of 14.10% and a return on equity of 2.60%. The firm had revenue of $134.90 million during the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter last year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts forecast that Gramercy Property Trust will post 2.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a $0.375 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.29%. Gramercy Property Trust’s dividend payout ratio is currently 348.84%.
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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.
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