Cannell Peter B Co Inc buys $73,778,438 stake in Gramercy Property Trust (GPT)

Gramercy Property Trust (GPT) : Cannell Peter B Co Inc scooped up 171,661 additional shares in Gramercy Property Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 7,528,412 shares of Gramercy Property Trust which is valued at $73,778,438.Gramercy Property Trust makes up approximately 2.57% of Cannell Peter B Co Inc’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in GPT in the latest quarter, The investment management firm added 166,625 additional shares and now holds a total of 1,670,976 shares of Gramercy Property Trust which is valued at $16,375,565. Gramercy Property Trust makes up approx 0.02% of Credit Suisse Ag’s portfolio.Neuberger Berman Group boosted its stake in GPT in the latest quarter, The investment management firm added 2,671 additional shares and now holds a total of 18,945 shares of Gramercy Property Trust which is valued at $187,934.Sigma Planning Corp boosted its stake in GPT in the latest quarter, The investment management firm added 2,234 additional shares and now holds a total of 20,034 shares of Gramercy Property Trust which is valued at $196,534. Gramercy Property Trust makes up approx 0.03% of Sigma Planning Corp’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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