Glimcher Realty Trust Price Target Cut to $12.00 by Analysts at Raymond James (GRT)
Equities researchers at Raymond James cut their price target on shares of Glimcher Realty Trust (NYSE:GRT) from $13.00 to $12.00 in a research report issued on Wednesday, Stock Ratings News reports. The firm currently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 17.53% from the stock’s previous close.
Separately, 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.
Glimcher Realty Trust (NYSE:GRT) traded down 0.39% on Wednesday, hitting $10.21. 1,347,738 shares of the company’s stock traded hands. Glimcher Realty Trust has a 52 week low of $9.62 and a 52 week high of $13.34. The stock’s 50-day moving average is $10.18 and its 200-day moving average is $11.08. The company’s market cap is $1.462 billion.
Glimcher Realty Trust (NYSE:GRT) last released its earnings data on Friday, October 25th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the 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. Analysts expect that Glimcher Realty Trust will post $0.71 EPS for the current fiscal year.
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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