Zacks Investment Research upgraded shares of Gramercy Property Trust (NYSE:GPT) from a sell rating to a hold rating in a report published on Wednesday, May 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. “
Several other research analysts have also recently commented on the stock. Stifel Nicolaus cut shares of Gramercy Property Trust from a buy rating to a hold rating and set a $25.00 price target for the company. in a report on Tuesday, May 8th. DA Davidson cut shares of Gramercy Property Trust from a buy rating to a neutral rating in a report on Monday, May 7th. SunTrust Banks reiterated a hold rating and set a $23.00 price target on shares of Gramercy Property Trust in a report on Tuesday, April 3rd. Royal Bank of Canada set a $26.00 price objective on shares of Gramercy Property Trust and gave the stock a hold rating in a research report on Wednesday, March 7th. Finally, ValuEngine downgraded shares of Gramercy Property Trust from a buy rating to a hold rating in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $27.60.
NYSE GPT opened at $27.53 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.73. Gramercy Property Trust has a 52 week low of $27.51 and a 52 week high of $27.53. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.94 and a beta of 0.55.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Monday, April 30th. The real estate investment trust reported $0.16 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.34). Gramercy Property Trust had a return on equity of 3.42% and a net margin of 18.27%. The firm had revenue of $149.50 million for the quarter, compared to analyst estimates of $124.29 million. During the same quarter last year, the firm earned $0.51 EPS. The company’s revenue was up 15.0% on a year-over-year basis. research analysts expect that Gramercy Property Trust will post 2.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.50 annualized dividend and a dividend yield of 5.45%. Gramercy Property Trust’s dividend payout ratio is presently 73.17%.
Several large investors have recently modified their holdings of GPT. Prime Capital Investment Advisors LLC purchased a new stake in shares of Gramercy Property Trust during the 4th quarter worth approximately $116,000. Zeke Capital Advisors LLC purchased a new stake in Gramercy Property Trust in the 4th quarter valued at $231,000. Cim Investment Mangement Inc. purchased a new stake in Gramercy Property Trust in the 1st quarter valued at $251,000. D.B. Root & Company LLC purchased a new stake in Gramercy Property Trust in the 4th quarter valued at $259,000. Finally, MANA Advisors LLC purchased a new stake in Gramercy Property Trust in the 4th quarter valued at $264,000. Institutional investors and hedge funds own 91.82% of the company’s stock.
About Gramercy Property Trust
Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing high quality, income producing commercial real estate leased to high quality tenants in major markets in the United States and Europe.
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