Gramercy to resume preferred dividends in Q4; targets 2014 for common payout

|About: Gramercy Property Trust,... (GPT)|By:, SA News Editor

Following last week's $47.4M private placement of common shares (expected to close today), Gramercy Property Trust (GPT) announces its intention to resume payments on its preferred stock beginning with the dividend due in Q4.

The company has identified a $130M pipeline of investment opportunities, and says the capital raise will help with executing these acquisitions, and allowing dividend-paying ability in 2014

A conference call and presentation is scheduled for 4:30 ET.

Friday evening: Gramercy raises $47.4M.