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BlackRock discloses a 2.09% passive stake in Gramercy Property Trust (GPT +1.1%).

BlackRock discloses a 2.09% passive stake in Gramercy Property Trust (GPT +1.1%).
Comments (13)
  • Chris DeMuth Jr.
    , contributor
    Comments (4040) | Send Message
     
    This is probably the last quarter without dividends, so it would be reasonable to think that this is a good time to buy or add.
    10 Jul 2013, 12:25 PM Reply Like
  • Gratian
    , contributor
    Comments (3231) | Send Message
     
    Chris,

     

    Time for me to jump in big time from my chicken little position? Just kidding :)

     

    Yes, I agree it is good news for the company, perhaps we will see some "MO" in the future. Best wishes, gratian
    10 Jul 2013, 07:47 PM Reply Like
  • Clayton Rulli
    , contributor
    Comments (2472) | Send Message
     
    Chris--- do you own the common or preferred or both?
    10 Jul 2013, 01:17 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4040) | Send Message
     
    I own both.
    10 Jul 2013, 01:54 PM Reply Like
  • gsterling
    , contributor
    Comments (552) | Send Message
     
    Do you know what the current back payments on the preferreds are? I'm coming up with a little over 9 bucks, but wanted to make sure I'm doing my math right.

     

    Thanks.
    10 Jul 2013, 02:08 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4040) | Send Message
     
    $9.64 per share for a total value of $34.64 per share. The accrued will probably be paid around the end of Q3.
    10 Jul 2013, 03:18 PM Reply Like
  • steppppo
    , contributor
    Comments (214) | Send Message
     
    Nice! Long GPT common.
    10 Jul 2013, 01:20 PM Reply Like
  • heth247
    , contributor
    Comments (49) | Send Message
     
    This 13G/A filing actually means that Blackrock reduced their holdings from 6% to 2%.
    10 Jul 2013, 01:39 PM Reply Like
  • Steven Reiman
    , contributor
    Comments (348) | Send Message
     
    Right, the original 13G/A was filed Jan 30th. It's not surprising given the run up in the stock price that they would begin to pare back their holdings.

     

    http://bit.ly/12mq7nc
    10 Jul 2013, 01:59 PM Reply Like
  • Johnson H
    , contributor
    Comments (8) | Send Message
     
    Based on the SEC filing today, BlackRock owns 1,158,680 shares. At today's prices, this equates to about a $5 million investment into GPT. Small potatoes for BlackRock, but great for GPT to have a institutional investor recognize its potential having purchased shares in the open market and not via selling shares diluting current shareholders like NYMT.
    10 Jul 2013, 02:08 PM Reply Like
  • pault123
    , contributor
    Comments (52) | Send Message
     
    Q1-2013 13F BlackRock Fund Advisors shows 1,150,878 shares an increase of 105,138 over the previous qtr.
    In today's filing they show 1,158,680 shares.
    10 Jul 2013, 02:11 PM Reply Like
  • mlq4296
    , contributor
    Comments (2) | Send Message
     
    I'm new and I'm trying to figure out if this is positive. Based on the 13G filed on January 30, 2013, BlackRock apparently owned 6.9% of the common stock. Now according to this revised 13G, they only own 2.1%. This would also explain why Item 5 is checked in today's 13G, stating they stopped being a 5% owner. Thus, this seems to me to be a negative. Perhaps I am reading this wrong...? Any insight is appreciated.
    10 Jul 2013, 02:13 PM Reply Like
  • mlq4296
    , contributor
    Comments (2) | Send Message
     
    Sorry to heth247 and others - double post. (New user delay.)
    10 Jul 2013, 03:33 PM Reply Like
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