First Mercantile Trust Co adds Gramercy Property Trust (GPT) to its portfolio

Gramercy Property Trust (GPT) : First Mercantile Trust Co added new position in Gramercy Property Trust during the most recent quarter end. The investment management firm now holds 58,520 shares of Gramercy Property Trust which is valued at $513,806 , the company said in a statement filed on Oct 7, 2016 with the SEC.Gramercy Property Trust makes up approximately 0.07% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Independent Portfolio Consultants boosted its stake in GPT in the latest quarter, The investment management firm added 14,795 additional shares and now holds a total of 59,381 shares of Gramercy Property Trust which is valued at $536,210. Gramercy Property Trust makes up approx 0.17% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in GPT in the latest quarter, The investment management firm added 20,130 additional shares and now holds a total of 39,453 shares of Gramercy Property Trust which is valued at $356,261. Washington Trust Bank added GPT to its portfolio by purchasing 113 company shares during the most recent quarter which is valued at $1,020.

Gramercy Property Trust closed down -0.05 points or -0.57% at $8.78 with 51,59,966 shares getting traded on Friday. Post opening the session at $8.87, the shares hit an intraday low of $8.72 and an intraday high of $9 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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