Private Management Group Inc Lowers stake in Gramercy Property Trust (GPT)

Gramercy Property Trust (GPT) : Private Management Group Inc reduced its stake in Gramercy Property Trust by 3.06% during the most recent quarter end. The investment management company now holds a total of 5,479,424 shares of Gramercy Property Trust which is valued at $53,698,355 after selling 172,881 shares in Gramercy Property Trust , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Gramercy Property Trust makes up approximately 3.44% of Private Management Group Inc’s portfolio.

Other Hedge Funds, Including , Comerica Bank reduced its stake in GPT by selling 2,325 shares or 2.85% in the most recent quarter. The Hedge Fund company now holds 79,182 shares of GPT which is valued at $775,984. Gramercy Property Trust makes up approx 0.01% of Comerica Bank’s portfolio.Cetera Advisors reduced its stake in GPT by selling 20,633 shares or 17.57% in the most recent quarter. The Hedge Fund company now holds 96,827 shares of GPT which is valued at $948,905. Gramercy Property Trust makes up approx 0.07% of Cetera Advisors’s portfolio.American Century Companies Inc boosted its stake in GPT in the latest quarter, The investment management firm added 1,265,568 additional shares and now holds a total of 1,341,056 shares of Gramercy Property Trust which is valued at $12,887,548. Gramercy Property Trust makes up approx 0.01% of American Century Companies Inc’s portfolio.

Gramercy Property Trust opened for trading at $9.55 and hit $9.6896 on the upside on Tuesday, eventually ending the session at $9.63, with a gain of 1.16% or 0.11 points. The heightened volatility saw the trading volume jump to 16,81,213 shares. Company has a market cap of $4,062 M.

On the company’s financial health, Gramercy Property Trust reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.17. The company had revenue of $139.40 million for the quarter, compared to analysts expectations of $124.93 million. The company’s revenue was up 157.7% compared to the same quarter last year.

Many Wall Street Analysts have commented on Gramercy Property Trust. Company shares were Reiterated by Compass Point on Aug 4, 2016 to “Buy”, Firm has raised the Price Target to $ 11.50 from a previous price target of $10.25 .

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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