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.

Comments (1)
  • DeepValueLover
    , contributor
    Comments (11221) | Send Message
    More great news. Keep it up, Gramercy!
    6 Aug 2013, 01:11 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs