Glimcher Realty Trust Director Purchases $25,675 in Stock (GRT)
Glimcher Realty Trust (NYSE:GRT) Director David Aronowitz acquired 2,500 shares of Glimcher Realty Trust stock on the open market in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average cost of $10.27 per share, with a total value of $25,675.00. Following the purchase, the director now directly owns 46,658 shares in the company. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
GRT has been the subject of a number of recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of Glimcher Realty Trust (NYSE:GRT) in a research note to investors on Tuesday, September 10th. They set a “buy” rating on the stock. Analysts at SunTrust initiated coverage on shares of Glimcher Realty Trust (NYSE:GRT) in a research note to investors on Friday, July 12th. They set a “neutral” rating on the stock.
One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Glimcher Realty Trust has a consensus rating of “Buy” and a consensus price target of $13.00.
Shares of Glimcher Realty Trust (NYSE:GRT) traded down 1.69% during mid-day trading on Thursday, hitting $10.44. The stock had a trading volume of 1,285,557 shares. Glimcher Realty Trust has a 52 week low of $9.70 and a 52 week high of $13.34. The stock’s 50-day moving average is $10.43 and its 200-day moving average is $11.37. The company’s market cap is $1.514 billion.
Glimcher Realty Trust (NYSE:GRT) last announced its earnings results on Thursday, July 18th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.16 by $0.07. The company had revenue of $96.70 million for the quarter, compared to the consensus estimate of $89.35 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 25.4% on a year-over-year basis. On average, analysts predict that Glimcher Realty Trust will post $0.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Thursday, September 26th.
Glimcher Realty Trust (NYSE:GRT) is an integrated, self-administered and self-managed Maryland REIT which was formed on September 1, 1993 to continue the business of The Glimcher Company and its affiliates, of owning, leasing, acquiring, developing and operating a portfolio of retail properties consisting of regional and super regional malls, and community shopping centers.
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