Corbyn Investment Management Inc. MD Sells 260,666 Shares of Gramercy Property Trust (GPT)

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Corbyn Investment Management Inc. MD lowered its stake in Gramercy Property Trust (NYSE:GPT) by 67.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 127,776 shares of the real estate investment trust’s stock after selling 260,666 shares during the quarter. Gramercy Property Trust comprises about 1.2% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 27th largest position. Corbyn Investment Management Inc. MD’s holdings in Gramercy Property Trust were worth $3,491,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GPT. First Foundation Advisors acquired a new stake in shares of Gramercy Property Trust in the first quarter valued at about $44,312,000. Principal Financial Group Inc. grew its stake in Gramercy Property Trust by 37.9% during the 1st quarter. Principal Financial Group Inc. now owns 5,969,108 shares of the real estate investment trust’s stock valued at $129,710,000 after purchasing an additional 1,641,496 shares in the last quarter. Long Pond Capital LP acquired a new stake in Gramercy Property Trust during the 1st quarter valued at approximately $35,457,000. Millennium Management LLC grew its stake in Gramercy Property Trust by 229.7% during the 1st quarter. Millennium Management LLC now owns 2,102,572 shares of the real estate investment trust’s stock valued at $45,689,000 after purchasing an additional 1,464,817 shares in the last quarter. Finally, Brookfield Asset Management Inc. grew its stake in Gramercy Property Trust by 22.3% during the 1st quarter. Brookfield Asset Management Inc. now owns 5,104,680 shares of the real estate investment trust’s stock valued at $110,925,000 after purchasing an additional 931,700 shares in the last quarter. Institutional investors and hedge funds own 85.01% of the company’s stock.

Shares of NYSE GPT opened at $27.36 on Monday. Gramercy Property Trust has a fifty-two week low of $21.12 and a fifty-two week high of $31.26. The company has a quick ratio of 3.63, a current ratio of 3.63 and a debt-to-equity ratio of 0.96. The company has a market cap of $4.39 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.93 and a beta of 0.83.

Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. Gramercy Property Trust had a return on equity of 3.93% and a net margin of 20.65%. The firm had revenue of $145.60 million during the quarter, compared to analyst estimates of $148.34 million. equities analysts expect that Gramercy Property Trust will post 2.02 earnings per share for the current fiscal year.

In other Gramercy Property Trust news, President Benjamin P. Harris sold 25,000 shares of the firm’s 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 completion of the sale, the president now owns 64,730 shares in the company, valued at approximately $1,790,431.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Gramercy Property Trust from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Wednesday, July 25th. Citigroup lowered Gramercy Property Trust to a “neutral” rating and set a $27.50 price objective for the company. in a research note on Tuesday, July 10th. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Gramercy Property Trust in a research note on Thursday, May 31st. Stifel Nicolaus lowered Gramercy Property Trust from a “buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research note on Tuesday, May 8th. Finally, DA Davidson lowered Gramercy Property Trust from a “buy” rating to a “neutral” rating in a research note on Monday, May 7th. Nine equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $26.50.

Gramercy Property Trust Company Profile

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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Institutional Ownership by Quarter for Gramercy Property Trust (NYSE:GPT)

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