Bard Associates Inc. Sells 6,054 Shares of Gramercy Property Trust (GPT)

Bard Associates Inc. trimmed its holdings in shares of Gramercy Property Trust (NYSE:GPT) by 8.3% in the second quarter, HoldingsChannel reports. The firm owned 66,501 shares of the real estate investment trust’s stock after selling 6,054 shares during the period. Bard Associates Inc.’s holdings in Gramercy Property Trust were worth $1,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. HRT Financial LLC acquired a new stake in Gramercy Property Trust during the second quarter worth approximately $239,000. Millennium Management LLC boosted its position in Gramercy Property Trust by 116.0% during the second quarter. Millennium Management LLC now owns 4,541,237 shares of the real estate investment trust’s stock worth $124,067,000 after acquiring an additional 2,438,665 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Gramercy Property Trust during the second quarter worth approximately $10,928,000. Alpine Global Management LLC acquired a new stake in Gramercy Property Trust during the second quarter worth approximately $7,513,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Gramercy Property Trust during the second quarter worth approximately $146,000. 86.68% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Gramercy Property Trust from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research report on Wednesday, July 25th. Citigroup lowered shares of Gramercy Property Trust to a “neutral” rating and set a $27.50 target price on the stock. in a research report on Tuesday, July 10th. LADENBURG THALM/SH SH restated a “neutral” rating on shares of Gramercy Property Trust in a research report on Thursday, May 31st. Finally, Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Gramercy Property Trust in a research report on Tuesday, July 10th. Nine investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $26.50.

In other Gramercy Property Trust news, President Benjamin P. Harris sold 25,000 shares of Gramercy Property Trust stock in a transaction on Monday, June 18th. The shares were sold at an average price of $27.66, for a total value of $691,500.00. Following the transaction, the president now owns 64,730 shares in the company, valued at approximately $1,790,431.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.

Shares of GPT opened at $27.40 on Friday. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 13.37, a P/E/G ratio of 1.94 and a beta of 0.75. 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 current ratio of 3.63, a quick ratio of 3.63 and a debt-to-equity ratio of 0.96.

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

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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