Gramercy Property Trust (GPT) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Gramercy Property Trust (NYSE:GPT) posted its earnings results on Tuesday. The real estate investment trust reported $0.53 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.01), Bloomberg Earnings reports. 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 2.69% and a net margin of 14.10%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.375 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.50 dividend on an annualized basis and a yield of 5.05%. Gramercy Property Trust’s dividend payout ratio is currently 340.92%.
GPT has been the topic of several analyst reports. SunTrust Banks, Inc. set a $30.00 target price on Gramercy Property Trust and gave the stock a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Gramercy Property Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 26th. ValuEngine raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Finally, TheStreet lowered Gramercy Property Trust from a “b-” rating to a “c” rating in a report on Tuesday, August 1st. Two 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 company presently has an average rating of “Hold” and a consensus price target of $31.25.
In related news, President Benjamin P. Harris sold 9,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $30.50, for a total value of $274,500.00. Following the transaction, the president now owns 96,101 shares in the company, valued at approximately $2,931,080.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.96% of the company’s stock.
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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