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

Zacks Investment Research cut shares of Gramercy Property Trust (NYSE:GPT) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning.

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 several other reports. ValuEngine raised Gramercy Property Trust from a hold rating to a buy rating in a report on Thursday, November 9th. Ladenburg Thalmann Financial Services reaffirmed a buy rating on shares of Gramercy Property Trust in a report on Wednesday, November 1st. Finally, SunTrust Banks set a $30.00 target price on Gramercy Property Trust and gave the stock a hold rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $31.25.

Shares of Gramercy Property Trust (GPT) traded down $0.04 on Tuesday, reaching $26.56. The company’s stock had a trading volume of 759,900 shares, compared to its average volume of 1,071,900. The firm has a market cap of $4,270.00, a P/E ratio of 61.77, a PEG ratio of 1.79 and a beta of 0.54. Gramercy Property Trust has a 52-week low of $25.21 and a 52-week high of $31.26. 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 earnings results on Tuesday, October 31st. The real estate investment trust reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). The company had revenue of $134.90 million for the quarter, compared to analyst estimates of $135.45 million. Gramercy Property Trust had a return on equity of 2.60% and a net margin of 14.10%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 earnings per share. equities research analysts forecast that Gramercy Property Trust will post 2.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date is Thursday, December 28th. Gramercy Property Trust’s dividend payout ratio is 348.84%.

In other news, President Benjamin P. Harris sold 6,371 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $26.73, for a total value of $170,296.83. Following the transaction, the president now directly owns 89,730 shares of the company’s stock, valued at approximately $2,398,482.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.36% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in GPT. Sii Investments Inc. WI acquired a new position in shares of Gramercy Property Trust in the 2nd quarter valued at about $208,000. Wittenberg Investment Management Inc. bought a new stake in Gramercy Property Trust in the 2nd quarter valued at about $213,000. Jane Street Group LLC bought a new stake in Gramercy Property Trust in the 3rd quarter valued at about $214,000. Cetera Investment Advisers bought a new stake in Gramercy Property Trust in the 2nd quarter valued at about $215,000. Finally, Tudor Investment Corp ET AL bought a new stake in Gramercy Property Trust in the 2nd quarter valued at about $226,000. 91.99% of the stock is currently owned by institutional investors.

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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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