Dallas, Texas 01/23/2014 (FINANCIALSTRENDS) – Gramercy Property Trust Inc (NYSE:GPT) has reported that the company has moved into 2014, with over 24 deals closing in 2013 valued at $361 million. The last of these were two property deals with lucrative earnings from a lease deal. The company has stated that these industrial property deals covered three physical locations spread over two areas. While two of the properties are at the Vernon, the third building is located at Allentown, PA. The properties are expected to hold 130K square feet at the Vernon property and will be leased to one of the regions better known steel properties. The next building that Gramercy Property Trust Inc (NYSE:GPT) offers for commercial occupancy is spread over 480 K in Allentwon and will be in the form of a lease to a global company engaged in the packging industry.
The company claims that both the deals will be spread over 15 year long term lease agreements and will generate an annual for both.
Following the positive growth in the recent weeks, Ladenburg Thalman showed that there are expectations of more from the company. The company has since show a BUY at the price target revised to $7.50. The line of thought, which expects these returns is the initiation of common dividend which is expected to act as the game changing aspect of the shares.
Financial story for Gramercy Property
Gramercy Property Trust Inc (NYSE:GPT) stock trades at 52 week high of $6.28 and 52 week low of $3.25. EPS recorded is 3.68 and PE is 1.70. The market cap for the company is currently at $448.25 million and volume is 373,267.
Gramercy Property Trust Inc (NYSE:GPT) is a US based retail investment company in the real estate space. The company holds several real estate assets, which are either self-managed or managed by real estate investment trust.