Why Has D. A. Davidson Given Gramercy Property Trust (NYSE:GPT) a $8.75 Price Target
Equities researchers at D. A. Davidson began issuing coverage on Gramercy Property Trust (NYSE:GPT) with a key Buy rating. The target price per share for GPT has been stated as $8.75. It provides a possible upside of 10.48% from company’s last stock price.
The stock increased 2.58% or $0.2 during the last trading session, striking $7.94. Approximately 4.31M shares of stock traded hands or 36.39% up from the average. Gramercy Property Trust Inc (NYSE:GPT) has declined 10.34% since May 15, 2015 and is downtrending. It has underperformed by 6.53% the S&P500.
Gramercy Property Trust, Inc. is an investor and asset manager of commercial real estate and is organized as a real estate investment trust . The company has a market cap of $1.42 billion. The Firm specializes in acquiring and managing single-tenant, net leased industrial and office properties in the United States and Europe markets. It currently has negative earnings. The Firm has two operating divisions: Investments/Corporate and Asset Management.
According to Zacks Investment Research, “Gramercy Property Trust Inc. operates as a commercial real estate investment and asset management company organized as a real estate investment trust. The Company owns and operates office and industrial properties, net leased on a long-term basis to tenants. Gramercy Property Trust Inc., formerly known as Gramercy Capital Corp., is headquartered in New York.”