First Trust Advisors LP reduced its stake in Gramercy Property Trust (NYSE:GPT) by 78.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,806 shares of the real estate investment trust’s stock after selling 166,845 shares during the period. First Trust Advisors LP’s holdings in Gramercy Property Trust were worth $1,231,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Creative Planning bought a new stake in shares of Gramercy Property Trust during the first quarter valued at about $345,000. Pensionfund DSM Netherlands acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at $2,148,000. Pensionfund Sabic acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at $885,000. Macquarie Group Ltd. increased its stake in shares of Gramercy Property Trust by 100.2% in the fourth quarter. Macquarie Group Ltd. now owns 4,383,006 shares of the real estate investment trust’s stock valued at $40,236,000 after buying an additional 2,193,847 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Gramercy Property Trust during the fourth quarter valued at $34,886,000. 81.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gramercy Property Trust (GPT) opened at 30.75 on Friday. The company has a market cap of $4.67 billion, a P/E ratio of 121.06 and a beta of 0.58. The firm’s 50-day moving average price is $29.13 and its 200 day moving average price is $27.52. Gramercy Property Trust has a 52 week low of $24.09 and a 52 week high of $30.96.
Gramercy Property Trust (NYSE:GPT) last released its quarterly earnings results 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 business had revenue of $129.99 million for the quarter, compared to analyst estimates of $126.88 million. Gramercy Property Trust had a return on equity of 1.59% and a net margin of 8.24%. On average, equities analysts predict that Gramercy Property Trust will post ($0.11) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, June 28th. Gramercy Property Trust’s dividend payout ratio is 652.15%.
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GPT has been the topic of several recent analyst reports. TheStreet downgraded Gramercy Property Trust from a “b-” rating to a “c+” rating in a research note on Friday, March 31st. Zacks Investment Research downgraded Gramercy Property Trust from a “hold” rating to a “sell” rating in a research note on Monday, April 10th. Compass Point reaffirmed a “buy” rating and set a $34.00 target price (up previously from $30.00) on shares of Gramercy Property Trust in a research note on Monday, June 19th. BidaskClub downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Gramercy Property Trust has a consensus rating of “Buy” and a consensus price target of $32.88.
Gramercy Property Trust Company Profile
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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