Why Has DA Davidson Given Gramercy Property Trust (NYSE:GPT) a $8.75 Price Target
DA Davidson has just issued a “Buy” rating for Gramercy Property Trust (NYSE:GPT) shares. The firm launched coverage on shares of GPT in an analyst research report finalized on Friday, 18 December. This target price per share would suggest upside of 13.05% from the current price of Gramercy Property Trust (NYSE:GPT).
The stock increased 2.93% or $0.7 during the last trading session, striking $24.63. Approximately 650 shares of stock traded hands. 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 $1.38 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.”