Gramercy Property Trust (NYSE:GPT) declared a quarterly dividend on Tuesday, May 1st, Wall Street Journal reports. Stockholders of record on Friday, June 29th will be given a dividend of 0.375 per share by the real estate investment trust on Monday, July 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date of this dividend is Thursday, June 28th.
Gramercy Property Trust has decreased its dividend payment by an average of 11.4% annually over the last three years and has raised its dividend every year for the last 3 years. Gramercy Property Trust has a dividend payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gramercy Property Trust to earn $2.03 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 73.9%.
Gramercy Property Trust opened at $27.32 on Friday, MarketBeat reports. Gramercy Property Trust has a twelve month low of $21.12 and a twelve month high of $31.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market cap of $4.40 billion, a PE ratio of 13.33, a P/E/G ratio of 1.93 and a beta of 0.59.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Monday, April 30th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.34). Gramercy Property Trust had a net margin of 18.27% and a return on equity of 3.42%. The company had revenue of $149.50 million for the quarter, compared to analysts’ expectations of $124.29 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. equities analysts forecast that Gramercy Property Trust will post 2.02 earnings per share for the current fiscal year.
In related news, President Benjamin P. Harris sold 25,000 shares of Gramercy Property Trust stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $27.66, for a total transaction of $691,500.00. Following the sale, the president now owns 64,730 shares of the company’s stock, valued at approximately $1,790,431.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.
A number of research firms have recently weighed in on GPT. LADENBURG THALM/SH SH reaffirmed a “neutral” rating on shares of Gramercy Property Trust in a research report on Thursday, May 31st. Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Stifel Nicolaus downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Tuesday, May 8th. DA Davidson downgraded Gramercy Property Trust from a “buy” rating to a “neutral” rating in a research note on Monday, May 7th. Finally, SunTrust Banks reissued a “hold” rating and set a $23.00 target price on shares of Gramercy Property Trust in a research note on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Gramercy Property Trust has a consensus rating of “Hold” and an average price target of $26.00.
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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