Seeking Alpha

More on Gramercy Q4 results

  • Gramercy Property Trust (GPT) AFFO of $3.4M or $0.05 per share in Q4, $5.8M or $0.09 per share for all 2013.
  • Eleven properties acquired in eight separate deals for total price of about $164.9M, with initial cap rate of 7.3% and average lease term of 14 years.
  • Subsequent to quarter's end, Gramercy acquired a 115K square foot industrial facility in Des Plaines, Illinois for $6.3M with initial cap rate of 7.6%.
  • Common stock dividend reinstated at $0.035 per share.
  • Press release, Q4 results
  • CC at 2 ET
Comments (2)
  • samdhale
    , contributor
    Comments (9) | Send Message
     
    It seems to me, as a investor in GPT, that 2013 was an overall large success. Let's hope that 2014 and beyond are as good or better.

     

    I believe that kudos are due to the management team! Keep up the good work.
    13 Mar, 12:00 PM Reply Like
  • samdhale
    , contributor
    Comments (9) | Send Message
     
    The stock of GPT went from approximately $2.92 on 12/31/2012 to about $5.58 on 12/31/2013- a gain of about 90% over the year.

     

    Most investors would be pretty happy with those results!

     

    Additionally, s/h can expect a modest dividend to start in April and reasonably expect it to increase over time. This is also not to forget that preferred dividends have been brought current.

     

    Guess those that sold the stock off today had somewhat higher expectations for the
    earnings report.
    13 Mar, 04:45 PM Reply Like
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