- "We made several adjustments to our model to incorporate Gramercy Property Trust's (GPT) Q4 acquisition announcements, the renewal of its asset management agreement, and additional details from the 10-Q, which was filed subsequent to our last note," says analyst Wilkes Graham, reiterating his Buy rating and lifting the price target $1 to $7.50.
- His team is also moving Gramercy comparable universe from Triple Net REITs to Small Cap REITs. "GPT continues to demonstrate that it can source and complete accretive acquisitions and we expect rapid NAV growth in 2014 and 2015."
- He's boosting his estimate for AFFO per share for 2014 to $0.36 from $0.25, and for 2015 to $0.48 from $0.47.
Gramercy PT hiked to $7.50 at Compass Point
Dec 31 2013, 07:16 ET