Seeking Alpha

More on Gramercy Property results

  • Q2 adjusted FFO of $5.6M or $0.06 per share vs. $3.6M and $0.05 in Q1. Dividend is $0.035.
  • Previous guidance of quarterly FFO per share run rate in H2 of $0.09-$0.11 is affirmed.
  • Acquired seven properties during Q for total price of about $96.2M and annualized straight-line cap rate of 8.2%. In July, closed deal for three industrial properties for about $69M with annualized straight-line cap rate of 8.8%.
  • Gramercy Asset Management fee revenues of $7.1M vs. $7M in Q1.
  • Management, general and administrative expenses of $4.5M up from $4.3M.
  • Conference call at 2 ET
  • Previously: Gramercy Property Trust beats by $0.08, beats on revenue
  • GPT flat premarket
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