Waterfront Capital Partners LLC lowered its stake in Gramercy Property Trust (NYSE:GPT) by 53.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 956,642 shares of the real estate investment trust’s stock after selling 1,119,388 shares during the period. Gramercy Property Trust accounts for approximately 3.7% of Waterfront Capital Partners LLC’s holdings, making the stock its largest position. Waterfront Capital Partners LLC owned 0.68% of Gramercy Property Trust worth $25,160,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Prudential Financial Inc. increased its stake in shares of Gramercy Property Trust by 283.1% in the first quarter. Prudential Financial Inc. now owns 165,181 shares of the real estate investment trust’s stock valued at $4,344,000 after buying an additional 122,065 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Gramercy Property Trust during the first quarter valued at $1,568,000. Envestnet Asset Management Inc. bought a new stake in shares of Gramercy Property Trust during the first quarter valued at $920,000. Ameritas Investment Partners Inc. bought a new stake in shares of Gramercy Property Trust during the first quarter valued at $313,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Gramercy Property Trust during the first quarter valued at $357,000.
Shares of Gramercy Property Trust (NYSE:GPT) traded down 0.11% during midday trading on Friday, hitting $28.53. The company had a trading volume of 2,045,333 shares. The stock’s 50-day moving average price is $27.65 and its 200-day moving average price is $26.88. Gramercy Property Trust has a 12 month low of $24.09 and a 12 month high of $30.09. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 112.32 and a beta of 0.54.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Tuesday, May 2nd. The real estate investment trust reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. The firm had revenue of $129.99 million during the quarter, compared to the consensus estimate of $126.88 million. Gramercy Property Trust had a negative return on equity of 1.04% and a negative net margin of 4.93%. On average, equities research analysts forecast that Gramercy Property Trust will post ($0.11) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a dividend of $0.375 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.50 dividend on an annualized basis and a yield of 5.25%. Gramercy Property Trust’s payout ratio is currently -263.13%.
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Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Gramercy Property Trust in a report on Wednesday, May 3rd. Finally, TheStreet downgraded Gramercy Property Trust from a “b-” rating to a “c+” rating in a report on Friday, March 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $33.00.
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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