Gramercy AFFO turns positive; expects to start common dividend in Q1


Gramercy Property Trust (GPT): Q3 AFFO turns positive for the first time since the turnaround, posting a gain of $2.2M, or $0.04 per share.

With postponed preferred stock dividends expected to be paid off in Q4, company announces expectations to initiate common stock dividend in 2014 Q1.

CC at 2 ET.

Comments (5)
  • Chris DeMuth Jr.
    , contributor
    Comments (10632) | Send Message
     
    GPT, our best long idea for 2013 +>59% YTD; best short idea -34% YTD. Starting to think about 2014. My short idea came to me easily but still struggling to think up a sensible long. A long should be deeply discounted, have a catalyst that will work sometime in 2014, and a price-insensitive counterparty. Ideas?
    7 Nov 2013, 08:50 AM Reply Like
  • Steven Reiman
    , contributor
    Comments (333) | Send Message
     
    CNRD looks like they will pay another special dividend in December. GLUX if you feel like gambling. Winston's SAEX also looks cheap but that will probably be rectified after this month's earnings release.

     

    Could always do WLFC!
    7 Nov 2013, 09:00 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (10632) | Send Message
     
    I was going to do WLFC but I don't have anything to add to your article (other than the comparatively trivial issues surrounding indexes).
    7 Nov 2013, 09:04 AM Reply Like
  • Steven Reiman
    , contributor
    Comments (333) | Send Message
     
    I wasn't thinking about WLFC being an acquisition target until you brought it up. Now that I've thought about it, it makes a lot of sense. Mr Willis is in his 60's and he's known as a bit of a micromanager so hard to see him passing on the reigns to someone else. I bet he would much rather just cash out when he retires.
    7 Nov 2013, 09:06 AM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (10632) | Send Message
     
    GPT 1st +AFFO, paying prefs’ accrued dividends Q4, common dividends in Q1. Discussion here: http://seekingalpha.co...
    7 Nov 2013, 08:57 AM Reply Like
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