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 Tuesday, January 9th.
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 topic of a number of other research reports. ValuEngine upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, November 1st. Finally, SunTrust Banks set a $30.00 target price on shares of Gramercy Property Trust and gave the company a “hold” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Gramercy Property Trust presently has a consensus rating of “Hold” and an average price target of $31.25.
Shares of Gramercy Property Trust (NYSE:GPT) opened at $26.39 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.24 and a current ratio of 0.24. Gramercy Property Trust has a 1 year low of $25.21 and a 1 year high of $31.26. The stock has a market cap of $4,222.38, a price-to-earnings ratio of 59.98, a PEG ratio of 1.76 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 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 for the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter last year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. sell-side analysts forecast that Gramercy Property Trust will post 2.05 earnings per share for the current year.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 6,371 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $26.73, for a total value of $170,296.83. Following the sale, the president now owns 89,730 shares in the company, valued at approximately $2,398,482.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.96% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Gramercy Property Trust by 6.5% in the 2nd quarter. Vanguard Group Inc. now owns 23,462,198 shares of the real estate investment trust’s stock worth $697,062,000 after purchasing an additional 1,437,301 shares in the last quarter. BlackRock Inc. lifted its stake in Gramercy Property Trust by 7.5% in the 2nd quarter. BlackRock Inc. now owns 13,137,418 shares of the real estate investment trust’s stock worth $390,312,000 after purchasing an additional 922,014 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Gramercy Property Trust by 1.3% in the 3rd quarter. Cohen & Steers Inc. now owns 7,719,083 shares of the real estate investment trust’s stock worth $233,502,000 after purchasing an additional 97,875 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Gramercy Property Trust by 10.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,281,060 shares of the real estate investment trust’s stock worth $158,642,000 after purchasing an additional 516,517 shares in the last quarter. Finally, Brookfield Asset Management Inc. lifted its stake in Gramercy Property Trust by 38.7% in the 2nd quarter. Brookfield Asset Management Inc. now owns 4,866,358 shares of the real estate investment trust’s stock worth $144,579,000 after purchasing an additional 1,357,618 shares in the last quarter. Institutional investors and hedge funds own 92.23% of the company’s stock.
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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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