Key Developments: Glimcher Realty Trust (GRT)
13.21USD
21 May 2013
$0.10 (+0.76%)
$13.12
$13.13
$13.26
$13.13
362,412
849,390
$13.33
$8.71
Latest Key Developments (Source: Significant Developments)
Glimcher Realty Trust Declares Quarterly Dividend
Glimcher Realty Trust announced that Board of Trustees has declared a quarterly cash dividend on its common shares and operating partnership units of $0.10 per common share/unit. This cash dividend is payable on July 15, 2013 to shareholders and unitholders of record on June 28, 2013. Additionally, the Company 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 $0.515625 per Series I preferred share of beneficial interest. Each of the cash dividends is payable on July 15, 2013 to shareholders of record on June 28, 2013. Full Article
Glimcher Realty Trust Lowers FY 2013 FFO Guidance; Issues Q2 2013 FFO Guidance In Line With Analysts' Estimates
Glimcher Realty Trust announced that for fiscal 2013, it expects diluted net loss per share to be in the range of $(0.11) to $(0.07) and diluted FFO per share to be in the range of $0.63 to $0.67. The initial guidance has been updated solely to reflect the $0.06 Preferred Share Redemption Charge recorded in the first quarter of 2013. For second quarter of 2013, it expects diluted net (loss) income per share to be in the range of $(0.01) to $0.01 and FFO per share to be in the range of $0.15 to $0.17. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $0.69 for fiscal 2013 and $0.16 for second quarter of 2013. Full Article
Glimcher Realty Trust Closes $90 Million Preferred Share Offering
Glimcher Realty Trust announced that it has closed the underwritten public offering of 3,600,000 of its 6.875% Series I Cumulative Redeemable Preferred Shares (the Series I Preferred Shares) with a liquidation preference of $25.00 per share. The offering generated net proceeds to the Company of approximately $86.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds to redeem 3,600,000 of Series G Cumulative Redeemable Preferred Shares. The Company has filed an application to list the Series I Preferred Shares on the New York Stock Exchange under the symbol "GRTPRI". Trading of the Series I Preferred Shares on the New York Stock Exchange is expected to begin within 30 days after the initial issuance of the Series I Preferred Shares. Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers. Jefferies LLC, Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated acted as co-managers for the offering. Full Article
Glimcher Realty Trust Announces Pricing of Series I Preferred Shares
Glimcher Realty Trust announced that it has priced the underwritten public offering of 3,600,000 of its 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest at $25.00 per share. The offering is expected to close on March 27, 2013. Distributions on the Series I Preferred Shares will be paid quarterly at a rate of 6.875% per annum of the liquidation preference of $25.00 per share, which is equivalent to $1.71875 per share on an annualized basis. The underwriters for the public offering have been granted a 30-day option to purchase up to 400,000 additional Series I Preferred Shares solely to cover overallotments, if any. The estimated net proceeds from the offering are expected to be approximately $86.7 million, after deducting the underwriting discount and estimated offering expenses, but before giving effect to any exercise of the underwriters` option to purchase additional shares. The Company intends to use the net proceeds from the offering to redeem a portion of its 8.125% Series G Preferred Shares of Beneficial Interest, and to the extent any excess proceeds are available, for general corporate purposes, which may include repaying indebtedness under Company`s corporate credit facilities. Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated will act as joint book-running managers. Jefferies LLC, Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering. Full Article
Glimcher Realty Trust Declares Quarterly Dividend
Glimcher Realty Trust announced that the Company`s Board of Trustees has declared a quarterly cash dividend on its common shares and operating partnership units of $0.10 per common share/unit. This cash dividend is payable on April 15, 2013 to shareholders and unitholders of record on March 29, 2013. Additionally, the Company declared quarterly cash dividends of $0.5078 per Series G preferred share of beneficial interest and $0.4688 per Series H preferred share of beneficial interest. Each of the cash dividends is payable on April 15, 2013 to shareholders of record on March 29, 2013. Full Article
Glimcher Realty Trust Issues FY 2013 FFO Guidance Below Analysts' Estimates
Glimcher Realty Trust announced that for fiscal 2013, it expects diluted net (loss) income per share to be in the range of $(0.02) to $0.02 and diluted fund from operation (FFO) per share to be in the range of $0.69 to $0.73. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $0.74 for fiscal 2013. Full Article
Glimcher Realty Trust Announces Acquisition Of University Park Village In Fort Worth, Texas
Glimcher Realty Trust announced the acquisition of University Park Village, a premier open-air center located in Fort Worth, Texas. University Park Village has approximately 173,220 square feet of leasable retail space and has tenant sales averaging more than $800 per square foot. The center is currently 97% occupied and features upscale retailers such as Apple, Anthropologie, J. Crew, lululemon athletica and Madewell. The Company purchased the center for $105 million. The Company funded the acquisition through a $60 million term loan and with the remaining funds coming from the company's credit facility. The company expects to obtain long-term mortgage financing on the property prior to the term loan's maturity date, provided market conditions are favorable. Full Article
Glimcher Realty Trust Declares Quarterly Dividend
Glimcher Realty Trust announced that the Company`s Board of Trustees has declared a quarterly cash dividend on its common shares and operating partnership units of $0.10 per common share/unit. This cash dividend is payable on January 15, 2013 to shareholders and unitholders of record on December 28, 2012. Additionally, the Company declared quarterly cash dividends of $0.5078 per Series G preferred share of beneficial interest and $0.4688 per Series H preferred share of beneficial interest. Each of the cash dividends is payable on January 15, 2013 to shareholders of record on December 28, 2012. Full Article
Glimcher Realty Trust Issues FY 2012 Guidance In Line With Analysts' Estimates
Glimcher Realty Trust announced that for fiscal 2012, it expects diluted net loss per share to be in the range of $(0.05) to $(0.02) and diluted FFO per share to be in the range of $0.57 to $0.60. According to I/B/E/S Estimates, analysts were expecting the Company to report FFO of $0.60 for fiscal 2012. Full Article
Glimcher Realty Trust Declares Quarterly Dividend
Glimcher Realty Trust announced that the Company’s Board of Trustees has declared a quarterly cash dividend on its common shares and operating partnership units of $0.10 per common share/unit. This cash dividend is payable on October 15, 2012 to shareholders and unitholders of record on September 28, 2012. Additionally, the Company declared quarterly cash dividends of $0.5078 per Series G preferred share of beneficial interest and $0.3333 per Series H preferred share of beneficial interest. Each of the cash dividends is payable on October 15, 2012 to shareholders of record on September 28, 2012. Full Article
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