Cannell Peter B Co Inc buys $65.8 Million stake in Gramercy Property Trust (GPT)

Gramercy Property Trust (GPT) : Cannell Peter B Co Inc scooped up 4,234,306 additional shares in Gramercy Property Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 7,356,751 shares of Gramercy Property Trust which is valued at $65.8 Million.Gramercy Property Trust makes up approximately 2.38% of Cannell Peter B Co Inc’s portfolio.

Other Hedge Funds, Including , United Capital Financial Advisers reduced its stake in GPT by selling 509 shares or 1.91% in the most recent quarter. The Hedge Fund company now holds 26,192 shares of GPT which is valued at $234,156. Penserra Capital Management sold out all of its stake in GPT during the most recent quarter. The investment firm sold 3,930 shares of GPT which is valued $35,134.Ngam Advisors boosted its stake in GPT in the latest quarter, The investment management firm added 154,050 additional shares and now holds a total of 578,231 shares of Gramercy Property Trust which is valued at $5.2 Million. Gramercy Property Trust makes up approx 0.08% of Ngam Advisors’s portfolio.

Gramercy Property Trust opened for trading at $8.93 and hit $9.07 on the upside on Monday, eventually ending the session at $9.06, with a gain of 1.34% or 0.12 points. The heightened volatility saw the trading volume jump to 28,28,572 shares. Company has a market cap of $3,820 M.

Many Wall Street Analysts have commented on Gramercy Property Trust. Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 9.25 from a previous price target of $9 .

Gramercy Property Trust formerly Chambers Street Properties is an investor and asset manager of commercial real estate and operates as a real estate investment trust (REIT). The Company specializes in acquiring and managing single-tenant net leased industrial and office properties in the United States and Europe markets. The Company has two operating segments: Investments/Corporate and Asset Management. The Investments/Corporate segment includes all of the Company’s activities related to investment and ownership of commercial properties net leased to tenants throughout the United States. The Asset Management segment includes all of the Company’s activities related to third-party asset and property management of commercial properties located throughout the United States and Europe.

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