Blackstone Adds Gramercy to Property Empire
More notable recent Gramercy Property Trust (NYSE:GPT) news were published by: Streetinsider.com which released: "Pre-Open Movers 05/07: (ATHN) (GPT) (NOG) Higher; (XRAY) (EBIO) (TSN) Lower (more...)" on May 07, 2018, also Streetinsider.com with their article: "Gramercy Property Trust (GPT) to be Acquired by Blackstone in $7.6B Deal" published on May 07, 2018, Seekingalpha.com published: "Blackstone to buy Gramercy Property Trust for $7.6B" on May 07, 2018. That's 8.00 % below today's $23.82 price per share. The company's stock had a trading volume of 719,270 shares, compared to its average volume of 1,219,092. It has a 24.7 P/E ratio.
Following a string of mergers and acquisitions announced on Monday comes another deal: Blackstone Group announced it would acquire Gramercy Property Trust, a commercial real estate asset management company, in a cash deal valued at $7.6 billion. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.75. Gramercy Property Trust (NYSE:GPT) has declined 16.09% since May 7, 2017 and is downtrending. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters' consensus estimate of $0.52. Gramercy Property Trust had a return on equity of 3.42% and a net margin of 18.27%. The business's quarterly revenue was up 18.1% compared to the same quarter past year. The company's revenue was up 15.0% compared to the same quarter last year. equities research analysts predict that Gramercy Property Trust will post 2.01 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. This represents a $1.50 annualized dividend and a yield of 6.44%. The ex-dividend date is Wednesday, March 28th. Gramercy Property Trust's dividend payout ratio (DPR) is presently 73.17%.
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A number of institutional investors and hedge funds have recently bought and sold shares of GPT. Ltd. raised its position in shares of Gramercy Property Trust by 9.4% during the 1st quarter. During the same period a year ago, the company earned $0.51 EPS.
The stock market has been punishing for all types of real estate investment trusts, pricing their holdings well below private market valuations. Mitsubishi UFJ Kokusai Asset Management Co. Brookfield Asset Management Inc. now owns 4,172,980 shares of the real estate investment trust's stock valued at $111,252,000 after acquiring an additional 136,657 shares during the last quarter. Institutional investors own 91.47% of the company's stock.
Blackstone earlier this year elevated Jonathan Gray, who turned the buyout firm into the world's biggest real estate investor, to president and chief operating officer, setting him up as successor to CEO Stephen Schwarzman.
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