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More on Gramercy Capital (GKK) Q4 earnings: Sale of CDO was closed with proceeds of $9.9M. In...

More on Gramercy Capital (GKK) Q4 earnings: Sale of CDO was closed with proceeds of $9.9M. In connection with exit from commercial real estate finance, company will change name to Gramercy Property Trust (a lure to income investors?) and trade under symbol GPT, effective April 15. "As the new business strategy is implemented ... the Company will revaluate its dividend policy with the intention of resuming dividends to stockholders." Shares +0.7% premarket. (PR)
Comments (1)
  • Chris DeMuth Jr.
    , contributor
    Comments (5576) | Send Message
    This is a "blocking and tackling" quarter of wrapping up the CDO sale and prepping the company for its next phase. We're looking over their shoulders to make certain that they are executing on their plan and they appear to be doing just that.


    It is interesting to me that the GKK CFO was so focused on aligning himself with shareholders in his newly public compensation: apparently this team thinks that there is a big opportunity here and that they are willing and eager to rise or fall alongside the common shareholders.


    They will get what we get and we could get a double from current prices within the next year or two.
    19 Mar 2013, 09:02 AM Reply Like
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