Seeking Alpha

Gramercy jumps in premarket trade

  • Acquired 11 properties for about $111.2M with average lease term of 15 years.
  • MG&A expenses of $4.3M off from $4.4M in Q1, $9.3M a year ago.
  • Recognized a $1M impairment on CDO bonds thanks to higher interest rates; carrying value now $7.6M.
  • Cash and equivalents on hand of $49M, off from $100.5M in Q1.
  • Asset management business fee revenues of $13.6M up from $8.3M in Q1. Includes $5.4M in incentive fees based on portfolio value at Q's end.
  • Total revenue of $16.3M up 69% Y/Y.
  • No word yet on dividend (common or preferred).
  • Earnings call at 2 ET. (PR)
  • Earlier: Q2 results.
  • GPT +7.3% premarket in very thin trade.

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Comments (1)
  • DeepValueLover
    , contributor
    Comments (9156) | Send Message
     
    More great news. Keep it up, Gramercy!
    6 Aug 2013, 01:11 PM Reply Like
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