California State Teachers Retirement System lowered its stake in Gramercy Property Trust (NYSE:GPT) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 242,332 shares of the real estate investment trust’s stock after selling 25,853 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Gramercy Property Trust worth $7,331,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. 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 worth $141,554,000 after buying an additional 4,763,319 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Gramercy Property Trust by 160.2% in the second quarter. Principal Financial Group Inc. now owns 3,539,442 shares of the real estate investment trust’s stock valued at $105,158,000 after purchasing an additional 2,178,912 shares during the last quarter. Citadel Advisors LLC grew its position in shares of Gramercy Property Trust by 1,551.7% in the second quarter. Citadel Advisors LLC now owns 1,879,807 shares of the real estate investment trust’s stock valued at $55,849,000 after purchasing an additional 1,765,998 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Gramercy Property Trust by 6.5% in the second quarter. Vanguard Group Inc. now owns 23,462,198 shares of the real estate investment trust’s stock valued at $697,062,000 after purchasing an additional 1,437,301 shares during the last quarter. Finally, Cbre Clarion Securities LLC acquired a new position in shares of Gramercy Property Trust in the second quarter valued at approximately $40,893,000. 91.99% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the company. Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. SunTrust Banks set a $30.00 target price on Gramercy Property Trust and gave the company a “hold” rating in a research report on Tuesday, October 31st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a research report on Wednesday, November 1st. Finally, ValuEngine upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.25.
Shares of Gramercy Property Trust (NYSE GPT) opened at $26.07 on Friday. 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 has a 12 month low of $25.21 and a 12 month high of $31.26. The stock has a market capitalization of $4,267.36, a P/E ratio of 59.25, a P/E/G ratio of 1.78 and a beta of 0.54.
Gramercy Property Trust (NYSE:GPT) last released its 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 for the quarter, compared to the consensus estimate of $135.45 million. During the same quarter in the previous year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. research analysts predict that Gramercy Property Trust will post 2.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Thursday, December 28th. Gramercy Property Trust’s payout ratio is presently 340.92%.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 6,371 shares of the company’s stock in a transaction on 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 sale, the president now directly owns 89,730 shares in the company, valued at $2,398,482.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.96% of the stock is owned by corporate insiders.
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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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