Gramercy Property Trust (GPT) Stake Increased by RMR Advisors LLC
RMR Advisors LLC grew its position in Gramercy Property Trust (NYSE:GPT) by 29.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 79,681 shares of the real estate investment trust’s stock after buying an additional 18,000 shares during the period. RMR Advisors LLC’s holdings in Gramercy Property Trust were worth $2,410,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC boosted 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 valued at $116,000 after buying an additional 542 shares in the last quarter. Sii Investments Inc. WI acquired a new stake in Gramercy Property Trust in the 2nd quarter worth approximately $208,000. Wittenberg Investment Management Inc. acquired a new stake in Gramercy Property Trust in the 2nd quarter worth approximately $213,000. Cetera Investment Advisers acquired a new stake in Gramercy Property Trust in the 2nd quarter worth approximately $215,000. Finally, GW&K Investment Management LLC acquired a new stake in Gramercy Property Trust in the 2nd quarter worth approximately $218,000. Institutional investors and hedge funds own 87.01% of the company’s stock.
Gramercy Property Trust (NYSE:GPT) traded down 0.37% during mid-day trading on Tuesday, reaching $29.72. 177,941 shares of the company were exchanged. The stock has a 50-day moving average of $30.53 and a 200 day moving average of $29.70. The firm has a market capitalization of $4.51 billion, a P/E ratio of 283.05 and a beta of 0.58. Gramercy Property Trust has a 1-year low of $24.09 and a 1-year high of $31.26.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.02). The company had revenue of $131.40 million for the quarter, compared to analyst estimates of $136.30 million. Gramercy Property Trust had a return on equity of 0.81% and a net margin of 4.35%. Gramercy Property Trust’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Equities research analysts forecast that Gramercy Property Trust will post ($0.11) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, September 28th. Gramercy Property Trust’s dividend payout ratio is currently 1,666.85%.
A number of analysts recently commented on GPT shares. Zacks Investment Research cut shares of Gramercy Property Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 26th. ValuEngine upgraded shares of Gramercy Property Trust from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Ladenburg Thalmann Financial Services reiterated a “buy” rating on shares of Gramercy Property Trust in a research note on Friday, September 1st. BidaskClub cut shares of Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Gramercy Property Trust presently has a consensus rating of “Hold” and an average target price of $31.67.
In other news, President Benjamin P. Harris sold 9,000 shares of the firm’s stock in a transaction on 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 transaction, the president now owns 96,101 shares in the company, valued at $2,931,080.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.36% of the company’s stock.
Gramercy Property Trust 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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