Nov. 4, 2014, 8:59 AM
- Q3 adjusted FFO of $9.2M or $0.08 per share vs. $2.2M and $0.04 one year ago. Previous guidance of quarterly run-rate FFO for Q4 of $0.09-$0.11 is reaffirmed.
- Asset management business currently manages about $900M of commercial properties. Fee revenues of $4.8M down from $7.1M in Q2 after Gramercy (NYSE:GPT) acquired the remaining 50% interest in the BofA portfolio JV.
- 12 properties acquired during Q in 10 separate deals for about $174M. Initial cap rate of 8% with an average-weighted lease term of 7.3 years.
- Since quarter-end, company closed on another property for $10.1M with a 7.7% initial cap rate.
- Quarter-end liquidity of about $189.1M vs. $298.7M at Q2's end.
- Previously: Gramercy Property Trust beats by $0.07, beats on revenue
- Conference call at 12 ET
Nov. 4, 2014, 8:38 AM
Aug. 7, 2014, 8:49 AM
- 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
Aug. 7, 2014, 8:37 AM| Comment!
May. 8, 2014, 8:57 AM| Comment!
May. 8, 2014, 8:42 AM
- Adjusted FFO of $3.6M or $0.05 per share vs. $3.4M or $0.05 in Q4. Street expectations were for $0.01.
- Reaffirms guidance of $0.09-$0.11 in each of Q3 and Q4. Current dividend is $0.035.
- Liquidity on hand of $153.4M vs. $81.1M at end of Q4
- One property acquisition in Q1 and two more since Q2 started
- Asset management business fee revenue of $7M in Q1 vs. $10.6M in Q4
- BofA JV generated $500M in earnings vs. $3M loss in Q4
- CC at 2 ET
- Source: Press Release
- GPT no trades premarket
Mar. 13, 2014, 8:49 AM
- 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
Mar. 13, 2014, 8:36 AM| Comment!
Nov. 7, 2013, 9:01 AM
Nov. 7, 2013, 8:41 AM
- 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.
- Press release.
Aug. 6, 2013, 9:16 AM
- Acquired 11 properties for about $111.2M with average lease term of 15 years.
- MG&A expenses of $4.3M off from $4.4M in Q1, $9.3M a year ago.
- Recognized a $1M impairment on CDO bonds thanks to higher interest rates; carrying value now $7.6M.
- Cash and equivalents on hand of $49M, off from $100.5M in Q1.
- Asset management business fee revenues of $13.6M up from $8.3M in Q1. Includes $5.4M in incentive fees based on portfolio value at Q's end.
- Total revenue of $16.3M up 69% Y/Y.
- No word yet on dividend (common or preferred).
- Earnings call at 2 ET. (PR)
- Earlier: Q2 results.
- GPT +7.3% premarket in very thin trade.
Aug. 6, 2013, 8:39 AM
May. 7, 2013, 8:54 AMMore on Gramercy Property Trust (GPT) Q1 earnings: Unrestricted cash of $100.5M vs. $105.4M on Dec. 31. Management and G&A expenses of $4.4M vs. $5.1M a year ago. Asset management unit revenue of $8.3M, flat Y/Y. Company booked a $1.2M loss on BofA joint venture; expects to earn $1M/year in management fees, and chance of higher based on performance. Shares +4.5% premarket. CC at 2 ET. (PR) | 4 Comments
May. 7, 2013, 8:41 AM
Mar. 19, 2013, 8:43 AM
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Gramercy Property Trust Inc is a fully-integrated, self-managed commercial real estate investment company engaged in acquiring and managing income-producing industrial and office properties net leased to high quality tenants in the United States.
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