Tower Research Capital LLC TRC purchased a new stake in Gramercy Property Trust (NYSE:GPT) in the second quarter, according to its most recent filing with the SEC. The fund purchased 5,361 shares of the real estate investment trust’s stock, valued at approximately $146,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of GPT. Alpine Associates Management Inc. bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at approximately $123,659,000. Water Island Capital LLC bought a new stake in shares of Gramercy Property Trust in the 2nd quarter valued at approximately $62,416,000. Bank of America Corp DE increased its holdings in shares of Gramercy Property Trust by 255.1% in the 2nd quarter. Bank of America Corp DE now owns 2,904,355 shares of the real estate investment trust’s stock valued at $79,347,000 after acquiring an additional 2,086,496 shares during the last quarter. First Foundation Advisors bought a new stake in shares of Gramercy Property Trust in the 1st quarter valued at approximately $44,312,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Gramercy Property Trust by 37.9% in 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 acquiring an additional 1,641,496 shares during the last quarter. Institutional investors and hedge funds own 86.36% of the company’s stock.
A number of research analysts recently commented on GPT shares. Zacks Investment Research upgraded Gramercy Property Trust from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Thursday, July 5th. Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Gramercy Property Trust in a research note on Tuesday, July 10th. Finally, Citigroup downgraded 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. One research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $26.50.
Gramercy Property Trust (NYSE:GPT) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.01. The firm had revenue of $145.60 million during the quarter, compared to the consensus estimate of $148.34 million. Gramercy Property Trust had a return on equity of 3.93% and a net margin of 20.65%. On average, equities analysts forecast that Gramercy Property Trust will post 2.02 earnings per share for the current fiscal year.
Gramercy Property Trust 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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