Honeywell International Inc. Acquires Shares of 30,000 Gramercy Property Trust (NYSE:GPT)

Honeywell International Inc. acquired a new stake in Gramercy Property Trust (NYSE:GPT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the real estate investment trust’s stock, valued at approximately $891,000.

Other hedge funds have also modified their holdings of the company. Creative Planning acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $345,000. Palisade Capital Management LLC NJ acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $4,470,000. Hartford Investment Management Co. acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $4,905,000. Rehmann Capital Advisory Group acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $207,000. Finally, Strs Ohio acquired a new stake in shares of Gramercy Property Trust during the first quarter valued at approximately $6,668,000. 87.02% of the stock is currently owned by institutional investors and hedge funds.

Gramercy Property Trust (NYSE:GPT) traded down 0.93% during trading on Friday, reaching $28.91. The company had a trading volume of 860,806 shares. Gramercy Property Trust has a one year low of $24.09 and a one year high of $31.19. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 275.33 and a beta of 0.58. The company has a 50-day moving average price of $29.71 and a 200 day moving average price of $28.35.

Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The firm had revenue of $131.40 million during the quarter, compared to analysts’ expectations of $136.30 million. Gramercy Property Trust had a net margin of 4.35% and a return on equity of 0.81%. The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Analysts expect that Gramercy Property Trust will post ($0.11) earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 annualized dividend and a yield of 5.19%. Gramercy Property Trust’s dividend payout ratio (DPR) is 1,666.85%.

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Several analysts have issued reports on GPT shares. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Gramercy Property Trust in a research note on Wednesday, May 3rd. Zacks Investment Research raised Gramercy Property Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. ValuEngine downgraded Gramercy Property Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. TheStreet raised Gramercy Property Trust from a “c+” rating to a “b-” rating in a research note on Monday, June 12th. Finally, Compass Point reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $30.00) on shares of Gramercy Property Trust in a research report on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Gramercy Property Trust presently has an average rating of “Hold” and an average target price of $32.00.

In other news, President Benjamin P. Harris sold 5,000 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $29.68, for a total transaction of $148,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nicholas L. Pell sold 11,350 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $29.53, for a total transaction of $335,165.50. The disclosure for this sale can be found here. Company insiders own 0.96% of the company’s stock.

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.

Institutional Ownership by Quarter for Gramercy Property Trust (NYSE:GPT)

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