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I am long since December 2008. In my retirement account. I see no reason to sell for many more years.
Gramercy Property Trust Inc. [$GPT] due diligence
bullish
shaped like a inverted head and shoulders pattern
http://stockcharts.com/school/doku.php?st=head+and+shoulders&id=chart_school:chart_analysis:chart_patterns:head_and_shoulders_bottom_reversal
but might really be an ascending triangle since head and shoulders happen after a downtrend and this is in an uptrend
http://stockcharts.com/school/doku.php?st=acending+triangle&id=chart_school:chart_analysis:chart_patterns:ascending_triangle_continuation
DD Notes ~ http://www.ddnotesmaker.com/GPT
##### recent news/filings ~ source: finance.yahoo.com
Tue, 01 Jul 2014 17:45:50 GMT ~ GRAMERCY PROPERTY TRUST INC. Files SEC form 8-K, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Sub
read full: http://biz.yahoo.com/e/140701/gpt8-k.html
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Tue, 01 Jul 2014 13:21:19 GMT ~ Gramercy Property Trust Announces Acquisition of $28.4 Million R&D Flex Facility in Malvern, PA
[at noodls] - NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it closed the acquisition of an approximately 191,000 square foot R&D flex facility ...
read full: http://www.noodls.com/view/1458C8935ECB8F8253D175E67268B48E80A2FC58
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Wed, 25 Jun 2014 14:08:00 GMT ~ Tomorrow's Ex-Dividends To Watch: NDRO, GPT, TRP
read full: http://www.thestreet.com/story/12756348/1/tomorrows-ex-dividends-to-watch-ndro-gpt-trp.html?puc=yahoo&cm_ven=YAHOO
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Mon, 23 Jun 2014 14:06:00 GMT ~ The World's Best Dividend Portfolio
read full: http://www.fool.com/investing/dividends-income/2014/06/23/the-worlds-best-dividend-portfolio.aspx?source=eogyholnk0000001
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Thu, 19 Jun 2014 10:57:59 GMT ~ Can Gramercy (GPT) Run Higher on Strong Earnings Estimate Revisions?
read full: http://finance.yahoo.com/news/gramercy-gpt-run-higher-strong-105759443.html
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##### chart ~ source: stockcharts.com
##### chart ~ source: eoddata.com
##### company info ~ source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/GPT/company-info
Ticker: $GPT
OTC Market Place: Not Available
CIK code: 0001287701
Company name: Gramercy Property Trust Inc.
Incorporated In: MD, USA
##### extra dd links
Edgar filings: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001287701&owner=exclude&count=40
Latest filings: http://www.otcmarkets.com/stock/GPT/filings
Latest financials: http://www.otcmarkets.com/stock/GPT/financials
Latest news: http://www.otcmarkets.com/stock/GPT/news - http://finance.yahoo.com/q/h?s=GPT+Headlines
Major holdings: http://data.cnbc.com/quotes/GPT/tab/8.1
Insider transactions (1): http://finance.yahoo.com/q/it?s=GPT+Insider+Transactions
Insider transactions (2): http://www.secform4.com/insider-trading/GPT.htm
Insider transactions (3): http://www.insidercow.com/history/company.jsp?company=GPT
RegSho: http://www.regsho.com/tools/symbol_stats.php?sym=GPT&search=search
DTCC: http://search2.dtcc.com/?q=Gramercy+Property+Trust+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information: http://www.spoke.com/search?utf8=%E2%9C%93&q=Gramercy+Property+Trust+Inc.
Corporation WIKI: http://www.corporationwiki.com/search/results?term=Gramercy+Property+Trust+Inc.&x=0&y=0
Short Sales: http://www.otcmarkets.com/stock/GPT/short-sales
Insider Disclosure: http://www.otcmarkets.com/stock/GPT/insider-transactions
Research Reports: http://www.otcmarkets.com/stock/GPT/research
Historical Prices: http://finance.yahoo.com/q/hp?s=GPT+Historical+Prices
Basic Tech. Analysis: http://finance.yahoo.com/q/ta?s=GPT+Basic+Tech.+Analysis
Company Profile: http://finance.yahoo.com/q/pr?s=GPT+Profile
Key Statistics: http://finance.yahoo.com/q/ks?s=GPT+Key+Statistics
Industry: http://finance.yahoo.com/q/in?s=GPT+Industry
Insider Roster: http://finance.yahoo.com/q/ir?s=GPT+Insider+Roster
Income Statement: http://finance.yahoo.com/q/is?s=GPT
Balance Sheet: http://finance.yahoo.com/q/bs?s=GPT
Cash Flow: http://finance.yahoo.com/q/cf?s=GPT+Cash+Flow&annual
Market Watch: http://www.marketwatch.com/investing/stock/GPT
Bloomberg: http://www.bloomberg.com/quote/GPT:US
Morningstar: http://quotes.morningstar.com/stock/s?t=GPT
Bussinessweek: http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=GPT
Barchart: http://www.barchart.com/quotes/stocks/GPT
OTC Short Report: http://otcshortreport.com/index.php?index=GPT
Investopedia: http://www.investopedia.com/markets/stocks/GPT/?wa=0
http://www.pennystocktweets.com/stocks/profile/GPT
##### last known share structure ~ source: otcmarkets.com
Market Value: $446,334,806 a/o Jul 03, 2014
Shares Outstanding: 71,413,569 a/o May 09, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.001
##### business description ~ source: otcmarkets.com
DD Notes ~ http://www.ddnotesmaker.com/GPT
fi2110
FnF pops and I will sell some fluff and putnit to work in GPT and my housing sector stocks...
I'm also in Fannie. This is the perfect set up for real estate coming of the bottom. A hard bottom at that. When we get released everything is going to fly to new highs. Like your list, in at 2.25 in Fan. and 5.50 avg. GPT. Trying to get a house now and unless you have a lot of free cash you have to go with FHA or empty your 401K for the down payment under conventional loans. This effects the whole real estate market more than the common person understands . I'm also a professional builder and engineer and see it everyday with clients.
If GPT can break this resistance, I could see a period of blue skies.
Nope. I'm long. Swing trade some to gain more shares. I think we are the only ones here though.
GPT $6.21 and three attempts at resistance here is a charm, I say we break to blue skies....am I the only long here?
Gramercy Property Trust Announces Acquisition of $28.4 Million R&D Flex Facility in Malvern, PA (7/01/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it closed the acquisition of an approximately 191,000 square foot R&D flex facility located in Malvern, Pennsylvania (Philadelphia MSA). The building is 100% leased through March 2030 to a leading healthcare diagnostics company. Year 1 net operating income is approximately $2.1 million (7.5% initial cap rate; 8.7% annualized straight-line cap rate) with annual rent escalations throughout the lease term. The facility was acquired all-cash for a purchase price of approximately $28.4 million.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates a commercial real estate asset and property management business for third parties.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140701005315/en/Gramercy-Property-Trust-Announces-Acquisition-28.4-Million#.U7NqxolOWUk
GPT and housing sector stocks will recover only after current uncertainty of 30 year mortgage is removed by restoring Fannie and Freddie. Upon restoration, GPT will return to all time highs.
This has an awesome chart pattern. Just follow the lines. The question is now will it hold 6 and push up through 6.28 or retest 5.50-5.60. Either way safe long term investment in this range. What are your thoughts?
Gentlemen/ladies: I have not been on this board for a long while but have been involved with Gramercy since 2007. Rode it down a bit, but it has treated me VERY well since. Patience paid off especially with 5 years of accrued perf divs. This company is not the same as it was several years ago. The new management has done all that it has promised including changing the operating plan and executed well so far. Although I would be delighted to see it reach the old highs since we still hold a large positions on common, plus some perf A, I think that talking the 30's is out of range for a very long time. Optimistically I could see 7+ by the end of this year, 9 to 10 in 2015, but 30---perhaps in 5 years if the stars are in alignment and DuGan keeps growing the company. Just my opinion. Good Luck and I secretly hope you are surprisingly correct!
Away from my computer, so you just need to draw a line and place a date...drink some wine...with time, you'll be sitting fine.
By that logic; is 8.68 out of the realm of possibility before the next dividend pay out?
GPT has repetitive chart pattern...draw a line an see...por favor.
I am at the mall...
Pretty different circumstances when Gramercy was doing that.
Let's get to 14 first.
When do you see teens??? My price goal is 9 by March.
Well, get ready, cause this is going there, IMO. Historical high was thrity five...no jive.
Will this dive? I don't know...I suppose it could ride like CBG did when I got in around three bucks, when they had a "special stock offering"...
If we hit teens I will be posting a picture of me doing a hand stand
Looks like blue skies possible....$6.2 GPT close with macd looking strong on weekly stockcharts.com. Past four weeks good volume. Teens soon imo.
Bank of America started coverage on shares of Gramercy Property Trust (NYSE:GPT) in a research note issued on Tuesday. The firm set a “buy” rating and a $6.25 price target on the stock. Bank of America’s price target indicates a potential upside of 12.61% from the company’s current price.
Gramercy Property Trust (NYSE:GPT) opened at 5.55 on Tuesday. Gramercy Property Trust has a 52-week low of $3.96 and a 52-week high of $6.28. The stock has a 50-day moving average of $5.27 and a 200-day moving average of $5.42. The company’s market cap is $396.3 million.
Gramercy Property Trust (NYSE:GPT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $15.58 million for the quarter, compared to the consensus estimate of $16.30 million.
Gramercy Property Trust Inc, formerly Gramercy Capital Corp., is an integrated, self-managed real estate investment and asset management company.
http://www.americanbankingnews.com/2014/05/27/bank-of-america-initiates-coverage-on-gramercy-property-trust-gpt/
Gramercy Property Trust Acquires Three Properties for $39.6 Million (5/21/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it acquired, in separate transactions, three properties totaling approximately 423,000 square feet for an aggregate purchase price of approximately $39.6 million. Year 1 net operating income for the three properties totals approximately $2.8 million (7.1% initial cap rate; 7.8% annualized straight-line cap rate) and a weighted average lease term of approximately 11.5 years.
The first property is an approximately 309,000 square foot packaging and distribution facility located in Elk Grove Village, Illinois (Chicago MSA), which is 100% leased with annual rent escalations through December 2023 to one of the nation’s largest independent bakery and contract food manufacturers. The second property is an approximately 89,000 square foot operations center located in Nashville, Tennessee, which is 100% leased with rent escalations through June 2029 to a global leader in services to the food, facilities management and career apparel industries. The third property is an approximately 25,000 square foot office and retail bank branch located in St. Louis, Missouri, leased to two tenants with a weighted average lease term of five years.
About Gramercy Property Trust
Gramercy Property Trust is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. We also operate an asset management business that manages commercial real estate assets for third parties.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140521005335/en/Gramercy-Property-Trust-Acquires-Properties-39.6-Million#.U31gj61OWUk
Gramercy Property Trust Announces Pricing of Upsized Public Offering of 40,000,000 Shares of Common Stock (5/14/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today the pricing of the public offering of 40,000,000 shares of its common stock at a public offering price of $4.98 per share. In addition, the underwriters of the offering have a 30-day option to purchase up to an additional 6,000,000 shares of the Company’s common stock. The offering was upsized from the previously announced offering of 34,000,000 shares. The offering is subject to customary closing conditions and is expected to close on May 19, 2014.
The Company intends to use a portion of the net proceeds of the offering to fund the cash purchase price for the previously announced acquisition of the 50% joint venture interest held by affiliates of Garrison Investment Group, L.P. The Company currently owns the remaining 50% interest in the joint venture. The remaining proceeds are expected to be used for general corporate purposes, including acquisitions of target assets consistent with the Company’s investment strategies and for working capital purposes.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the offering. RBC Capital Markets is acting as senior co-manager and JMP Securities, Ladenburg Thalmann & Co. Inc., Compass Point, BNY Mellon Capital Markets, LLC and CJS Securities, Inc. are acting as co-managers.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The offering is being made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204. These documents will also be filed with the SEC and will be available at the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third parties, including our joint venture partners, commercial real estate assets.
http://www.businesswire.com/news/home/20140514005317/en/Gramercy-Property-Trust-Announces-Pricing-Upsized-Public#.U3UjPthOXIU
I am surprised pps did not head to $4.98....
Gramercy Property Trust Announces Public Offering of 34,000,000 Shares of Common Stock (5/12/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has commenced an underwritten public offering of 34,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 5,100,000 shares of its common stock.
The Company intends to use a portion of the net proceeds of the offering to fund the cash purchase price for the previously announced acquisition of the 50% joint venture interest held by affiliates of Garrison Investment Group, L.P. The Company currently owns the remaining 50% interest in the joint venture. The remaining proceeds are expected to be used for general corporate purposes, including acquisitions of target assets consistent with the Company’s investment strategies and for working capital purposes.
Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the offering.
The offering is being made pursuant to an effective shelf registration statement filed with the Securities and Exchange Commission (“SEC”). The offering will be made only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained by contacting: Morgan Stanley & Co. LLC, 180 Varick Street, New York, New York 10014, Attention: Prospectus Department, telephone: (866) 718-1649; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, email: dg.prospectus_requests@baml.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling 1-866-803-9204. These documents will also be filed with the SEC and will be available at the SEC’s website at http://www.sec.gov.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third parties, including our joint venture partners, commercial real estate assets.
http://www.businesswire.com/news/home/20140512006659/en/Gramercy-Property-Trust-Announces-Public-Offering-34000000#.U3IarK1OWUk
Gramercy Property Trust Announces Agreement to Purchase Garrison’s 50% Interest in the $395 Million Bank of America Portfolio and Announces a New $400 Million Senior Unsecured Credit Facility (5/12/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has entered into a membership interest purchase and sale agreement with an affiliate of Garrison Investment Group (“Garrison”) to acquire Garrison’s 50% interest in a joint venture (the “Joint Venture”) that owns a portfolio of 67 properties (plus three held-for-sale properties) located across the United States totaling approximately 3.1 million square feet and is 96% leased to Bank of America, N.A. The Company currently owns the remaining 50% interest of the Joint Venture. The purchase and sale agreement values the Joint Venture assets at approximately $395.0 million.
The Company intends to acquire Garrison’s interest in the Joint Venture with approximately $92.2 million in cash, subject to various prorations and credits. At closing, the Company intends to repay the existing $200.0 million loan encumbering the portfolio with proceeds from a new unsecured credit facility. The Joint Venture acquisition is expected to close in the second quarter of 2014 and is subject to customary closing conditions.
In addition, the Company announced today that it signed a commitment letter with J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as Lead Arrangers, JPMorgan Chase Bank, N.A. and Bank of America, N.A. for a new $400.0 million senior unsecured credit facility, consisting of an up to $200.0 million senior revolving credit facility (the “Revolving Credit Facility”) and an up to $200.0 million senior term loan (the “Term Facility”). The Revolving Credit Facility has an initial term of four years with an option for a one-year extension and will replace the Company’s senior secured credit facility. The Term Facility has an initial term of five years and will be used to repay the existing $200.0 million mortgage loan encumbering the Joint Venture portfolio properties. The Company has the ability to increase the amount of the facilities up to a maximum amount of $800.0 million, in the aggregate, subject to lender approval and satisfaction of certain customary conditions.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third parties, including our joint venture partners, commercial real estate assets.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140512006650/en/Gramercy-Property-Trust-Announces-Agreement-Purchase-Garrison%E2%80%99s#.U3IaUK1OWUk
Gramercy Property Trust Inc. Reports First Quarter 2014 Financial Results (5/08/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT):
HIGHLIGHTS
• Generated funds from operations (“FFO”) of $3.2 million or $0.05 per diluted common share.
• Generated adjusted funds from operations (“AFFO”) of $3.6 million or $0.05 per fully diluted common share for the first quarter 2014.
• Reaffirms previous guidance of estimated quarterly run-rate FFO for Q3 2014 and Q4 2014 of $0.09 - $0.11 per share.
• Raised $115.0 million of gross proceeds through a private offering of Exchangeable Senior Notes priced at 3.75% which will mature in March 2019.
• Increased our senior secured revolving credit facility to $150.0 million by exercising the $50.0 million accordion feature.
• Paid quarterly common stock dividends of $0.035 per common share on April 15, 2014 to holders of record as of March 31, 2014.
• Paid quarterly Series A preferred stock dividend of $0.50781 per share on April 15, 2014 to holders of record as of March 31, 2014.
• Acquired a 115,472 square foot industrial property for approximately $6.3 million (7.6% initial cap rate; 8.5% annualized straight-line cap rate) with a lease term of approximately 12 years. Subsequent to quarter end, the Company acquired two additional properties for a total purchase price of approximately $18.7 million.
• Ended the quarter with approximately $153.4 million of liquidity, as compared to approximately $81.1 million of liquidity reported in prior quarter.
SUMMARY
Gramercy Property Trust Inc. (NYSE:GPT) today reported a net loss to common stockholders of $2.3 million, or $0.03 per fully diluted common share for three months ended March 31, 2014. For the quarter, the Company generated FFO of $3.2 million, or $0.05 per fully diluted common share. For the quarter, the Company generated AFFO of $3.6 million, or $0.05 per fully diluted common share. A reconciliation of FFO and AFFO to net loss available to common stockholders is included on page 9 of the press release.
For the first quarter of 2014, the Company recognized total revenues of approximately $15.6 million, a decrease of 12% over total revenues of $17.7 million reported in the prior period. Prior period included the additional $3.2 million of incentive fees recognized at execution of the extension of the asset management agreement with KBS in December 2013.
DIVIDENDS
The Company resumed payment of dividends to common stockholders, beginning with the first quarter of 2014. The board of directors authorized and the Company declared a dividend of $0.035 per common share for the first quarter of 2014 which was paid on April 15, 2014 to holders of record as of March 31, 2014.
The board of directors also authorized and the Company declared the Series A preferred stock quarterly dividend for the period January 15, 2014 through and including April 14, 2014 in the amount of $0.50781 per share, reflecting an annualized distribution of $2.03125 per share. The preferred stock dividend was paid on April 15, 2014 to holders of record as of March 31, 2014.
http://www.businesswire.com/news/home/20140508005719/en/Gramercy-Property-Trust-Reports-Quarter-2014-Financial#.U3IZg61OWUk
GPT gonna be fine...
Have been enjoying the cheaper shares. In this for the long haul.
Been a fun ride...oh...I not selling...oh no.
Gramercy Property Trust Acquires Two Industrial Properties for $18.7 Million (5/05/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it acquired, in separate transactions, two industrial properties totaling approximately 295,000 square feet for a total purchase price of approximately $18.7 million, net of approximately $285,000 of rent credit. Both properties are 100% leased with a weighted average lease term of approximately 13 years. Year 1 net operating income for the two properties totals approximately $1.4 million (7.3% initial cap rate; 8.4% annualized straight-line cap rate).
The first property is an approximately 112,000 square foot manufacturing facility located in Elgin, Illinois (Chicago MSA), which is leased through August 2028 with annual rent escalations to a global manufacturer of small, engineered metal components. The second property is an approximately 183,000 square foot industrial warehouse located in Harrisburg, Pennsylvania, which is leased through February 2025 with annual rent escalations to a subsidiary of a large multinational industrial company.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140505005284/en/Gramercy-Property-Trust-Acquires-Industrial-Properties-18.7#.U2tS7K1OWUk
MGIC Investment Corporation Reports First Quarter 2014 Results
PR Newswire
MILWAUKEE, April 22, 2014
MILWAUKEE, April 22, 2014 /PRNewswire/ -- MGIC Investment Corporation(MTG) today reported income for the quarter ended March 31, 2014 of $60.0 million, compared with a net loss of $72.9 million for the same quarter a year ago. Diluted income per share was $0.15 for the quarter ending March 31, 2014, compared to diluted loss per share of $0.31 for the same quarter a year ago.
Curt S. Culver, CEO and Chairman of the Board of Mortgage Guaranty Insurance Corporation ("MGIC") and MTG, said, "I am pleased with the credit performance during the quarter and am encouraged by the level of the new business being written given the significant decline in refinance transactions compared to last year and the slow start in home sales given this winter's harsh conditions." He added that "I feel the company is in an excellent position to take advantage of the housing recovery."
Gramercy Property Trust Announces Agreement to Purchase $73.4 Million Industrial Portfolio (4/21/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it has agreed to acquire a portfolio of four industrial properties totaling approximately 1.6 million square feet for an aggregate purchase price of approximately $73.4 million plus transaction expenses. For the combined portfolio, Year 1 net operating income is anticipated to be approximately $6.6 million (9.0% initial cap rate; 8.8% annualized straight-line cap rate) with a weighted average lease term of approximately 6.7 years. Gramercy will fund the equity portion of the purchase price with the issuance of OP Units as described below.
The portfolio is 100% leased and includes (i) a 550,000 square foot Class-A industrial warehouse located in Buford, Georgia (Atlanta MSA), which is 100% leased through April 2020 to a global supplier of office products; (ii) a 577,000 square foot Class A industrial warehouse located in Ames, Iowa, off Interstate Highway 35 that is leased to three tenants, including 300,000 square feet to a global packaging supplier; (iii) a 328,000 square foot beverage production and distribution facility located in Wilson, North Carolina, at the intersection of Interstate-95 and US Highway 264 that is leased through May 2026 to a leading beverage producer; and (iv) a 102,000 square foot warehouse located in El Paso, Texas, that is leased through June 2018 to a logistics provider.
At closing, the Company will assume four in-place mortgage loans aggregating approximately $45.5 million and having an average remaining term of 3.6 years until maturity and will fund the remaining $27.9 million of the purchase price, net of certain closing costs to be paid in cash, by issuing to the selling investors limited partnership units (“OP Units”) of GPT Property Trust LP, the operating partnership of Gramercy Property Trust, Inc. OP Units can be converted on a 1:1 basis into common shares of GPT at the election of the unit holder.
Gordon F. DuGan, the Company’s Chief Executive Officer, stated: “I am very pleased to announce our agreement to purchase this portfolio, which is subject to due diligence and certain approvals. This acquisition is a terrific example of finding accretive opportunities which provide Gramercy with additional growth without issuing equity into the market."
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets throughout the United States primarily leased to financial institutions and affiliated users.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140421005208/en/Gramercy-Property-Trust-Announces-Agreement-Purchase-73.4#.U1XHR61OWUk
Gramercy Property Trust Announces Pricing of Private Offering of $100 Million of 3.75% Exchangeable Senior Notes Due 2019 (3/19/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT) (the “Company”) announced today that GPT Property Trust LP (the “Operating Partnership”), the wholly-owned subsidiary through which the Company conducts its operations, has priced a private offering of $100 million aggregate principal amount of the Operating Partnership’s 3.75% Exchangeable Senior Notes due 2019, which will be sold only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
The notes will be senior unsecured obligations of the Operating Partnership and will be guaranteed by the Company on a senior unsecured basis. The Operating Partnership also granted the initial purchasers a 30-day option to purchase up to an additional $15 million aggregate principal amount of the notes to cover over-allotments, if any. The closing of the sale of the notes is expected to occur on March 24, 2014, subject to the satisfaction of customary closing conditions.
The notes will pay interest semi-annually at a rate of 3.75% per annum and mature on March 15, 2019, unless redeemed, repurchased or exchanged in accordance with their terms prior to such date. The notes will have an initial exchange rate, subject to adjustment, of 161.1863 shares of the Company’s common stock per $1,000 principal amount of the notes, representing an exchange price of approximately $6.20 per share of the Company’s common stock and an exchange premium of approximately 20% based on the last reported sale price of $5.17 per share of Company common stock on March 18, 2014.
The notes will be exchangeable, under certain circumstances, for cash, for shares of the Company’s common stock or for a combination of cash and shares of the Company’s common stock, at the Operating Partnership’s election. The notes will also be exchangeable prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date, at any time beginning on December 15, 2018, and also upon the occurrence of certain events. The number of shares of the Company’s common stock that holders will be eligible to receive upon exchange of the notes will be subject to an "exchange share cap" unless and until the Company obtains stockholder approval to issue more than 19.99% of the Company’s common stock outstanding on the closing date, in accordance with the listing standards of the New York Stock Exchange. Unless and until such stockholder approval is obtained, the Operating Partnership will be deemed to have elected combination settlement with a specified dollar amount per $1,000 principal amount of notes of at least $1,000 for all notes submitted for exchange, which means the Operating Partnership will be obligated to settle its exchange obligation by paying up to the specified dollar amount with respect to such notes in cash and delivering shares of the Company’s common stock for any exchange value in excess of such specified dollar amount.
On or after March 20, 2017, in certain circumstances, the Operating Partnership may redeem all or part of the notes for cash at a price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
The Operating Partnership expects to use the net proceeds from the offering to reduce amounts outstanding under its $150 million senior secured revolving credit facility and for general corporate purposes, including acquisitions of target assets consistent with its investment strategies, and for working capital purposes.
The notes and any shares of the Company’s common stock that may be issued upon exchange of the notes have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.
This release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or shares of the Company’s common stock, nor shall there be any sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such jurisdiction. Any offers of the securities will be made only by means of a private offering memorandum.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets.
http://www.businesswire.com/news/home/20140319005371/en/Gramercy-Property-Trust-Announces-Pricing-Private-Offering#.Uypv4K1OWUk
Gramercy Property Trust Announces Private Offering of $100 Million of Exchangeable Senior Notes Due 2019 (3/18/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT) (the “Company”) announced today that GPT Property Trust LP (the “Operating Partnership”), the wholly-owned subsidiary through which the Company conducts its operations, has commenced a private offering of $100 million aggregate principal amount of the Operating Partnership’s Exchangeable Senior Notes due 2019, which will be offered and sold only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
The notes will be senior unsecured obligations of the Operating Partnership and will be guaranteed by the Company on a senior unsecured basis. The interest rate, exchange rate and other terms of the notes will be determined by negotiations among the Company and the initial purchasers of the notes. The Operating Partnership expects to grant the initial purchasers a 30-day option to purchase up to an additional $15 million aggregate principal amount of the notes to cover over-allotments, if any.
The Operating Partnership expects to use the net proceeds from the offering to reduce amounts outstanding under its senior secured revolving credit facility and for general corporate purposes, including acquisitions of target assets consistent with its investment strategies, and for working capital purposes.
The notes and any shares of the Company’s common stock that may be issued upon exchange of the notes have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.
This release does not constitute an offer to sell or a solicitation of an offer to buy any of the notes or shares of the Company’s common stock, nor shall there be any sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such jurisdiction. Any offers of the securities will be made only by means of a private offering memorandum.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets.
http://www.businesswire.com/news/home/20140318005773/en/Gramercy-Property-Trust-Announces-Private-Offering-100
Expect a nice bounce on GPT from todays lows within the next 2 days
Gramercy Property Trust Inc. Reports Fourth Quarter and Full Year 2013 Financial Results (3/13/14)
Announces Resumption of Common Stock Quarterly Dividend
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT):
HIGHLIGHTS
• Generated negative funds from operations (“FFO”) of $0.947 million or negative $0.01 per diluted common share for the fourth quarter 2013. For the full year, generated positive FFO of $394.3 million or $6.41 per diluted common share.
• FFO before discontinued operations was $3.5 million or $0.05 per common share for the fourth quarter 2013. For the full year, generated positive FFO before discontinued operations of $1.3 million or $0.02 per diluted common share.
• Generated adjusted funds from operations (“AFFO”) of $3.4 million or $0.05 per fully diluted common share for the fourth quarter 2013. For the full year, generated AFFO of $5.8 million or $0.09 per diluted common share.
• Declared payment of quarterly common stock dividends of $0.035 per common share, to be paid on April 15, 2014 to holders of record as of March 31, 2014.
• In January 2014, paid all accrued and unpaid preferred stock dividends and resumed timely payments of quarterly preferred stock dividends.
• Raised $45.5 million of net proceeds through the private placement of approximately 11.5 million shares of common equity at a price of $4.11 per share.
• Extended the asset management services agreement with an affiliate of KBS Real Estate Investment Trust, Inc. (“KBS”) through December 31, 2016 with a one-year extension option and received payment of $12.0 million from KBS in satisfaction of the profit participation interest under existing agreement.
• During the quarter, acquired 11 properties in eight separate transactions for a total purchase price of approximately $164.9 million (initial cap rate 7.3% and GAAP cap rate 8.3%) with an average lease term of 14 years.
• Ended the fourth quarter of 2013 with cash and cash equivalents of $43.3 million as compared to $28.7 million reported at the end of the prior quarter.
SUMMARY
Gramercy Property Trust Inc. (NYSE:GPT) today reported a net loss to common stockholders of $7.7 million, or $0.11 per fully diluted common share for the three months ended December 31, 2013 and net income to common stockholders of $377.7 million, or $6.14 per fully diluted common share for the full year ended December 31, 2013. For the quarter, the Company generated negative FFO of $0.947 million, or negative $0.01 per fully diluted common share, and for the year ended December 31, 2013, FFO was $394.3 million, or $6.41 per fully diluted common share. FFO and net loss to common stockholders include a contingency of approximately $4.4 million, or $0.06 and $0.07 per common share for the quarter and year ended December 31, 2013, respectively, related to a transfer tax assessment for a joint venture interest sold by the Company in 2010. The Company believes the transaction was exempt from transfer taxes and intends to vigorously defend against the assessment. The contingency is recorded in discontinued operations. For the quarter, the Company generated AFFO of $3.4 million, or $0.05 per fully diluted common share, and for the year ended December 31, 2013, AFFO was $5.8 million, or $0.09 per fully diluted common share. A reconciliation of FFO and AFFO to net income available to common stockholders is included on page 10 of the press release.
For the fourth quarter of 2013, the Company recognized total revenues of approximately $17.7 million, an increase of 32% over total revenues of $13.4 million reported in the prior quarter. Total revenues for the year ended December 31, 2013 were approximately $56.7 million as compared to $36.8 million for the prior year.
DIVIDENDS
The Company, after a hiatus of more than five years, will resume payment of a dividend to common stockholders, beginning with the first quarter of 2014. The board of directors authorized and the Company has declared a dividend of $0.035 per common share for the first quarter of 2014, to be paid on April 15, 2014 to holders of record as of March 31, 2014.
Gordon F. DuGan, Chief Executive Officer, commented, “We are very pleased with the significant milestones achieved in the fourth quarter of 2013. Furthermore, the initiation of a common dividend for the first quarter of 2014 is another important step forward for Gramercy. We are currently focused on Gramercy’s growth trajectory and therefore our dividend policy will be based upon a low payout ratio for the time being. Finally, we are very excited about our prospects for significant growth in 2014.”
The board of directors also authorized and the Company has declared the Series A preferred stock quarterly dividend for the period January 15, 2014 through and including April 14, 2014 in the amount of $0.50781 per share, reflecting an annualized distribution of $2.03125 per share. The preferred stock dividend is payable on April 15, 2014 to holders of record as of March 31, 2014.
In January 2014, the Company paid all accrued preferred stock dividends for prior periods, which as of December 31, 2013, was $37.6 million or $10.23524 per share. The Company also resumed timely payments of dividends on the Company’s preferred stock, beginning with the $0.50781 per share dividend due for the fourth quarter of 2013. The accrued dividend was paid on January 13, 2014, and the quarterly dividend was paid on January 15, 2014.
[click on link below to view remainder of press release]
http://www.businesswire.com/news/home/20140313005352/en/Gramercy-Property-Trust-Reports-Fourth-Quarter-Full
Nice purchase....hey, I got my Chicago shirt on...go gpt!
Gramercy Property Trust Exercises $50 Million Accordion Feature of Its Credit Facility and Announces Acquisition of $6.3 Million Industrial Facility in Chicago, IL (3/03/14)
NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust Inc. (NYSE:GPT), a real estate investment trust, announced today that it exercised the accordion feature of its senior secured credit facility (the “Credit Facility”), increasing the revolving borrowing capacity to $150.0 million. All other terms of the Credit Facility remained the same. The Credit Facility banks include Deutsche Bank AG New York Branch as Administrative Agent and Lender; Deutsche Bank Securities, Inc. as Bookrunner and Joint Lead Arranger; Merrill Lynch, Pierce, Fenner & Smith as Joint Lead Arranger; Bank of America, N.A. and Royal Bank of Canada as Co-Syndication Agents and Lenders; and The Bank of New York Mellon, Morgan Stanley Bank, N.A. and PNC Bank, National Association as Lenders.
In addition, the Company closed the acquisition of an approximately 115,500 square foot industrial facility in Des Plaines, Illinois, (Chicago MSA). The building is 100% leased through October 2025 to an automotive parts manufacturing company. Year 1 net operating income is approximately $479,000 (7.60% initial cap rate, 8.36% GAAP cap rate) with annual rent escalations throughout the lease term. The facility was acquired for approximately $6.3 million, including the assumption of an approximately $2.7 million first mortgage with a fixed rate of 5.25%.
About Gramercy Property Trust
Gramercy Property Trust Inc. is a fully-integrated, self-managed commercial real estate investment company focused on acquiring and managing income-producing industrial and office properties net leased to high quality tenants in major markets throughout the United States. The Company also operates an asset management business that manages for third-parties, including our joint venture partners, commercial real estate assets.
To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 212-297-1000.
http://www.businesswire.com/news/home/20140303005569/en/Gramercy-Property-Trust-Exercises-50-Million-Accordion
GPT up 6.62% this week. Looks to be blue skies ahead after we broke $5.25. Love this stock in my portfolio.
GPT $6.16 over 4% and looking strongs.
COVERAGE INITIATED: Gramercy Property Trust (GPT) initiated by Ladenburg Thalmann. Initial rating Buy. 01/17 05:21 AM
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Gramercy Property Trust Inc.
Gramercy Property Trust Announces Year-End Close on Two Sale Leasebacks Totaling $51.6 Million
NEW YORK--(BUSINESS WIRE)-- Gramercy Property Trust Inc. (NYSE: GPT), a real estate investment trust, announced today that it closed on three new industrial property acquisitions in two separate sale-leaseback transactions totaling $51.6 million. Two of the buildings are located in Vernon, California, in Los Angeles and the third building is located in Allentown, Pennsylvania. The Vernon properties total approximately 130,000 square feet and are leased to a leading regional steel services company under a single master lease. The Allentown property totals approximately 480,000 square feet and is leased to a leading global packaging company. Both transactions were structured with 15-year initial lease terms with fixed annual rent escalations throughout the term. Year 1 NOI for the three properties totals $3.4 million, equating to a GAAP cap rate of 7.8% and a cash cap rate of 6.6%. During 2013, the Company completed 24 separate acquisitions totaling $361.0 million.
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Gramercy Property Trust Inc.
420 Lexington Avenue , New York, NY 10170
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Analyst Actions: Gramercy Property PT Raised $1 at Compass Point, Buy Maintained; Shares Flat Early 12/31 05:44 AM
08:44 AM EST, 12/31/2013 (MT Newswires) -- Analysts at Compass Point have raised their target price on real estate investment trust Gramercy Property Trust Inc. (GPT:$5.835,0$0.075,01.30%) to $7.50 from $6.50 a share.
The firm left its Buy rating on the stock unchanged.
In the pre-market session, shares of GPT were flat at $5.76, and move within a 52-week range of $2.92 - $5.80.
Price: 5.76, Change: 0, Percent Change: 0
Get more news on:SYMBOLS: GPTNEWS TYPE: Company News, Extended Trading, Pre-Market MoversSECTORS:
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Gramercy Property Trust Inc. is a self-managed, integrated commercial real estate investment and asset management company. The Company owns, directly or in joint ventures, 112 buildings totaling approximately 4.2 million square feet of office and 1.5 million square feet of industrial, net leased on a long-term basis to tenants, including Bank of America, Nestlé Waters, Philips Electronics and others. The Company's property management business, operating under the name Gramercy Asset Management, currently manages for third-parties, approximately $1.7 billion of commercial properties leased primarily to regulated financial institutions and affiliated users throughout the United States. The Company is headquartered in New York City and has regional offices in Jenkintown, Pennsylvania, and St. Louis, Missouri.
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