Revenue Update on Gramercy Property Trust(NYSE:GPT)

Gramercy Property Trust(NYSE:GPT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $139.43M. Analysts estimated a revenue of $62.92M. Earnings per share were $0.18.

In a different note, Mitsubishi UFJ said it Initiates Coverage on Gramercy Property Trust, according to a research note issued on Jun 28, 2016. The shares have been rated ‘Overweight’ by the firm. On May 13, 2016, Stifel Nicolaus said it Maintains its rating on Gramercy Property Trust. In the research note, the firm Raises the price-target to $9.25 per share. The shares have been rated ‘Buy’ by the firm.

Gramercy Property Trust (GPT) shares turned negative on Fridays trading session with the shares closing down -0.03 points or -0.31% at a volume of 25,91,505. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.94. The peak price level was also seen at $9.94 while the days lowest was $9.78. Finally the shares closed at $9.8. The 52-week high of the shares is $10.03 while the 52-week low is $6.34. According to the latest information available, the market cap of the company is $4,134 M.

Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Benjamin P Harris (President) sold 40,000 shares at $8.98 per share price.Also, On Jun 29, 2016, Charles E Black (director) purchased 1,460 shares at $8.84 per share price.On Jan 15, 2016, Thomas D Eckert (director) sold 8,987 shares at $6.92 per share price, according to the Form-4 filing with the securities and exchange commission.

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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