Glimcher Realty Trust (GRT) Releases FY13 Earnings Guidance
Glimcher Realty Trust (NYSE:GRT) issued an update on its FY13 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.69-0.71 for the period, compared to the Thomson Reuters consensus estimate of $0.71, American Banking News reports.
Shares of Glimcher Realty Trust (NYSE:GRT) traded up 0.47% during mid-day trading on Thursday, hitting $10.68. The stock had a trading volume of 701,280 shares. Glimcher Realty Trust has a 52-week low of $9.79 and a 52-week high of $13.34. The stock’s 50-day moving average is $10.50 and its 200-day moving average is $11.3. The company’s market cap is $1.549 billion.
Glimcher Realty Trust (NYSE:GRT) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.17 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.17. The company had revenue of $94.74 million for the quarter, compared to the consensus estimate of $95.14 million. During the same quarter last year, the company posted $0.14 earnings per share. Glimcher Realty Trust’s revenue was up 8.5% compared to the same quarter last year. On average, analysts predict that Glimcher Realty Trust will post $0.71 earnings per share for the current fiscal year.
On a related note, analysts at Janney Montgomery Scott initiated coverage on shares of Glimcher Realty Trust in a research note to investors on Tuesday, September 10th. They set a buy rating on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Glimcher Realty Trust currently has a consensus rating of Buy and a consensus price target of $13.00.
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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