Last $10.03 USD
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Company Description

Contact Info

180 East Broad Street

Columbus, OH 43215

United States

Phone: 614-621-9000

Fax:

Glimcher Realty Trust operates as an integrated, self-administered and self-managed Maryland real estate investment trust (REIT). The company engages in the ownership, management, acquisition and development of regional and super-regional malls. As of December 31, 2007, its Properties included 23 Malls (21 wholly-owned and 2 partially owned through a joint venture) containing an aggregate of 20.6 million square feet of gross leasable area (GLA) and 4 Community Centers containing an aggregate of 1.0 million square feet of GLA. Through Glimcher Company (TGC) and its affiliates, the company engages in owning, leasing, acquiring, developing and operating a portfolio of retail properties consisting of regional and super regional malls and community shopping centers. Malls: The company’s Malls are anchored by multiple department stores such as Belk’s, The Bon-Ton, Boscov’s, Dillard’s, Elder-Beerman, JCPenney, Kohl’s, Macy’s, Nordstrom, Saks, Sears, and Von Maur. Mall stores include Abercrombie & Fitch, American Eagle Outfitters, Banana Republic, Barnes & Noble, Bath & Body Works, The Disney Store, Finish Line, Foot Locker, Gap, Hallmark, Kay Jewelers, The Limited, Express, New York & Company, Old Navy, Pacific Sunwear, Radio Shack, Victoria’s Secret, Waldenbooks, and Zales Jewelers. The Malls also have additional restaurants and retail businesses, such as P.F. Chang’s, The Palm, Pier One and Red Lobster, located along the perimeter of the parking areas. Community Centers: The company’s Community Centers are designed to attract local and regional area customers and are anchored by a combination of discount department stores or supermarkets which attract shoppers to each center’s smaller shops. The tenants at its Community Centers offer day-to-day necessities and value-oriented merchandise. Community Center anchors include nationally recognized retailers such as Best Buy, JCPenney and Kmart, and supermarkets such as Kroger. Tax Status: The company has been organized and operated in a manner that qualifies for taxation as a REIT, as such it would not be subject to federal income tax to the extent it distributes 90.0% of its REIT ordinary taxable income to its shareholders. Partnerships In November 2009, the Blackstone Group and Glimcher Realty Trust announced a partnership for the acquisition and management of two regional malls. The assets for the joint venture would consist of two existing Glimcher mall properties: Lloyd Center in Portland, Oregon and WestShore Plaza in Tampa, Florida. History Glimcher Realty Trust was founded in 1993.

 

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GRT

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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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