Capital raise for Gramercy Property Trust; Q1 guidance is light

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

The REIT is selling 9M shares to help fund future acquisitions of target assets. Underwriters are Morgan Stanley and JPMorgan. Their greenshoe option is for another 1.35M shares.

Alongside are preliminary Q1 numbers: Core FFO per share is seen at $0.50-$0.51 vs. estimates for $0.53; AFFO per share of $0.47-$0.48. Full results are due on May 2.

GPT flat after hours