First Trust Advisors LP raised its stake in shares of Gramercy Property Trust Inc. (NYSE:GPT) by 75.3% during the second quarter, Holdings Channel reports. The institutional investor owned 279,315 shares of the real estate investment trust’s stock after buying an additional 120,008 shares during the period. First Trust Advisors LP owned 0.07% of Gramercy Property Trust worth $2,575,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in GPT. BB&T Securities LLC raised its stake in Gramercy Property Trust by 0.5% in the first quarter. BB&T Securities LLC now owns 12,748 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 58 shares during the period. Paragon Capital Management Ltd purchased a new stake in Gramercy Property Trust during the second quarter valued at approximately $110,000. Trutina Financial LLC purchased a new stake in Gramercy Property Trust during the second quarter valued at approximately $113,000. Stratos Wealth Partners LTD. raised its stake in Gramercy Property Trust by 20.4% in the first quarter. Stratos Wealth Partners LTD. now owns 15,295 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 2,595 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in Gramercy Property Trust by 4.1% in the second quarter. Daiwa Securities Group Inc. now owns 15,321 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.
Gramercy Property Trust Inc. (NYSE:GPT) traded up 2.81% on Wednesday, reaching $9.52. The company had a trading volume of 2,396,350 shares. Gramercy Property Trust Inc. has a 52-week low of $6.34 and a 52-week high of $10.03. The stock has a 50 day moving average price of $9.61 and a 200 day moving average price of $9.03. The stock’s market capitalization is $4.02 billion.
Gramercy Property Trust (NYSE:GPT) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.04. The firm earned $139.43 million during the quarter, compared to the consensus estimate of $54.15 million. Gramercy Property Trust had a negative net margin of 3.93% and a negative return on equity of 0.89%. The firm’s revenue was up 157.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 earnings per share. Analysts expect that Gramercy Property Trust Inc. will post ($0.11) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.44 dividend on an annualized basis and a yield of 4.62%. Gramercy Property Trust’s dividend payout ratio (DPR) is presently -293.31%.
Several research firms have commented on GPT. Zacks Investment Research lowered Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Thursday, September 15th. JMP Securities reiterated a “buy” rating on shares of Gramercy Property Trust in a research note on Tuesday, September 13th. Compass Point boosted their price objective on Gramercy Property Trust from $10.25 to $11.50 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Mitsubishi UFJ Financial Group began coverage on Gramercy Property Trust in a report on Tuesday, June 28th. They set an “overweight” rating and a $10.50 target price on the stock. Finally, TheStreet upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating in a report on Friday, June 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $9.96.
In other Gramercy Property Trust news, President Benjamin P. Harris sold 40,000 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.98, for a total value of $359,200.00. Following the completion of the transaction, the president now directly owns 570,880 shares of the company’s stock, valued at $5,126,502.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas D. Eckert bought 10,000 shares of the company’s stock in a transaction on Friday, September 16th. The stock was bought at an average cost of $9.27 per share, with a total value of $92,700.00. Following the completion of the acquisition, the director now owns 89,225 shares of the company’s stock, valued at approximately $827,115.75. The disclosure for this purchase can be found here. 0.96% of the stock is currently owned by company insiders.
About Gramercy Property Trust
Gramercy Property Trust, formerly Chambers Street Properties, is a real estate investment trust, which operates as 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 the Company’s activities related to the investment and ownership of commercial properties located throughout the United States and Europe.
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