Gramercy Property Trust (NYSE:GPT) received a $30.00 target price from research analysts at SunTrust Banks, Inc. in a report released on Tuesday. The firm currently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 1.01% from the company’s previous close.
GPT has been the subject of a number of other reports. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price objective on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. JMP Securities lowered shares of Gramercy Property Trust from a “market outperform” rating to a “market perform” rating in a research note on Monday, July 17th. Bank of America Corporation lowered shares of Gramercy Property Trust from a “neutral” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Wednesday, August 16th. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. Finally, TheStreet downgraded shares of Gramercy Property Trust from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.25.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings data 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 4.35% and a return on equity of 0.81%. The business had revenue of $134.90 million during the quarter, compared to analysts’ expectations of $135.45 million. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis.
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In other Gramercy Property Trust news, President Benjamin P. Harris sold 9,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $30.50, for a total value of $274,500.00. Following the completion of the transaction, the president now directly owns 96,101 shares of the company’s stock, valued at approximately $2,931,080.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.36% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the business. Credit Suisse AG bought a new position in Gramercy Property Trust in the 1st quarter valued at $10,299,000. JPMorgan Chase & Co. boosted its holdings in Gramercy Property Trust by 389,160.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,764,543 shares of the real estate investment trust’s stock valued at $141,554,000 after purchasing an additional 4,763,319 shares during the period. Bank of New York Mellon Corp boosted its holdings in Gramercy Property Trust by 4.7% in the 2nd 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 purchasing an additional 48,313 shares during the period. Prudential Financial Inc. boosted its holdings in Gramercy Property Trust by 425.9% in the 2nd quarter. Prudential Financial Inc. now owns 868,760 shares of the real estate investment trust’s stock valued at $25,811,000 after purchasing an additional 703,579 shares during the period. Finally, BT Investment Management Ltd bought a new position in Gramercy Property Trust in the 2nd quarter valued at $4,020,000. 87.01% of the stock is owned by hedge funds and other 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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