Last $10.03 USD
Change Today +0.02 / 0.20%
Volume 3.1M
GRT On Other Exchanges
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

glimcher realty trust (GRT) Key Developments

Glimcher Realty Trust Presents at Telsey Advisory Group 6th Annual Spring Consumer Conference, Mar-25-2014

Glimcher Realty Trust Presents at Telsey Advisory Group 6th Annual Spring Consumer Conference, Mar-25-2014 . Venue: Westin New York Times Square, New York, New York, United States. Speakers: Thomas J. Drought, Executive Vice President and Director of Leasing.

Glimcher Realty Trust Declares Quarterly Cash Dividend on Its Common and Preferred Shares, Payable on April 15, 2014

Glimcher Realty Trust announced that the company's Board of Trustees has declared a quarterly cash dividend on its common and preferred shares. A dividend of $0.10 per common share was declared. Also, a dividend of $0.10 per operating partnership unit was declared. Each cash dividend is payable on April 15, 2014 to shareholders and unit holders of record on March 31, 2014. Additionally, the GRT Board of Trustees declared quarterly cash dividends of $0.5078 per Series G preferred share of beneficial interest, $0.4688 per Series H preferred share of beneficial interest, and $0.4297 per Series I preferred share of beneficial interest. Each of the cash dividends is payable on April 15, 2014 to shareholders of record on March 31, 2014.

Glimcher Realty Trust Presents at Citi 2014 Global Property CEO Conference, Mar-04-2014 02:15 PM

Glimcher Realty Trust Presents at Citi 2014 Global Property CEO Conference, Mar-04-2014 02:15 PM. Venue: The Westin Diplomat, 3555 South Ocean Drive, Hollywood, FL 33019, United States. Speakers: Mark E. Yale, Chief Financial Officer, Executive Vice President, Treasurer and Member of Disclosure Committee, Michael P. Glimcher, Chairman, Chief Executive Officer, Trustee, Chairman of Executive Committee, Member of Strategic Planning Committee and Member of Disclosure Committee.

Glimcher Realty Trust Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter of 2014 and Year Ending December 31, 2014; Reports Impairment Charges for the Fourth Quarter of 2013

Glimcher Realty Trust reported unaudited earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported total revenues were $102.8 million, compared to total revenues of $91.7 million in the fourth quarter of 2012. The $11.1 million increase in total revenues resulted primarily from $8.2 million of revenue from properties acquired during 2013 and $4.3 million of revenue growth from comparable properties. Net loss to common shareholders was $49.0 million, compared to a net loss to common shareholders of $24.3 million in the fourth quarter of 2012. The $24.7 million increase in the net loss was primarily due to an increase of $20.2 million in non-cash impairment charges and $2.4 million of defeasance costs. Net operating income for comparable mall properties, including the pro-rata share of the malls held through material joint ventures, increased 3.4% when comparing the three months ended December 31, 2013 to the three months ended December 31, 2012. Funds from operations was $27.2 million or $0.18 per share and adjusted FFO was $29.6 million or $0.20 per share against funds from operations of $28.5 million or $0.20 per share and adjusted FFO of $28.5 million or $0.20 per share a year ago. For the year, the company reported total revenues were $381.8 million, compared to total revenues of $325.8 million for fiscal year 2012. The $56.0 million increase in total revenues resulted primarily from $44.6 million of revenue from properties acquired since January 2012, and $11.3 million in comparable property revenue growth. Net loss to common shareholders was $38.0 million, compared to a net loss of $30.5 million for fiscal year 2012. The $7.5 million increase in the net loss was primarily due to an increase of $14.4 million in the company's share of impairment charges, a $6.0 million increase in charges related to the redemption of the company's Series G preferred shares and a $2.4 million defeasance charge associated with the mortgage refinancing of the loan on The Outlet Collection Jersey Gardens. Net operating income for these same properties for the fiscal year ended December 31, 2013 increased approximately 4.5% compared to the fiscal year ended December 31, 2012. Funds from operations was $99.6 million or $0.68 per share and adjusted FFO was $104.5 million or $0.71 per share against funds from operations of $80 million or $0.58 per share and adjusted FFO of $90 million or $0.65 per share a year ago. For the first quarter of 2014, the company estimates the diluted loss per share to be in the range of $0.05 to $0.03 and FFO per share to be in the range of $0.15 to $0.17. For the year ending December 31, 2014, the company expects diluted net income per share to be in the range of $0.03 to $0.07, and expects diluted FFO per share to be in the range of $0.74 to $0.78. The company's share of an impairment charge recognized during the fourth quarter of 2013 was $45.1 million and related to Puente Hills Mall, located in the City of Industry, California.

Glimcher Realty Trust Presents at Wells Fargo 17th Annual Real Estate Securities Conference, Feb-26-2014

Glimcher Realty Trust Presents at Wells Fargo 17th Annual Real Estate Securities Conference, Feb-26-2014 . Venue: The Plaza Hotel, New York, New York, United States. Speakers: Lisa Indest, VP, Finance, Mark E. Yale, Chief Financial Officer, Executive Vice President, Treasurer and Member of Disclosure Committee.

 

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Valuation GRT Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 4.2x
Price/Book 4.3x
Price/Cash Flow 13.1x
TEV/Sales NM Not Meaningful
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