Gramercy Property Trust Inc. (GPT)

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Bank of America started coverage on shares of Gramercy Property Trust (NYSE:GPT) in a research note issued on Tuesday. The firm set a “buy” rating and a $6.25 price target on the stock. Bank of America’s price target indicates a potential upside of 12.61% from the company’s current price.

Gramercy Property Trust (NYSE:GPT) opened at 5.55 on Tuesday. Gramercy Property Trust has a 52-week low of $3.96 and a 52-week high of $6.28. The stock has a 50-day moving average of $5.27 and a 200-day moving average of $5.42. The company’s market cap is $396.3 million.

Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $15.58 million for the quarter, compared to the consensus estimate of $16.30 million.

Gramercy Property Trust Inc, formerly Gramercy Capital Corp., is an integrated, self-managed real estate investment and asset management company.

http://www.americanbankingnews.com/2014/05/27/bank-of-america-initiates-coverage-on-gramercy-property-trust-gpt/