Insider Selling: Glimcher Realty Trust EVP Sells 2,400 Shares of Stock (GRT)
Glimcher Realty Trust (NYSE:GRT) EVP George A. Schmidt sold 2,400 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $11.00, for a total transaction of $26,400.00. Following the sale, the executive vice president now directly owns 247,703 shares in the company, valued at approximately $2,724,733. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GRT shares. Analysts at Jefferies Group raised their price target on shares of Glimcher Realty Trust to $11.00 in a research note on Thursday, May 22nd. Finally, analysts at MLV & Co
initiated coverage on shares of Glimcher Realty Trust in a research note on Tuesday, March 25th. They set a “buy” rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Glimcher Realty Trust has an average rating of “Hold” and an average target price of $11.67.
Glimcher Realty Trust (NYSE:GRT) traded down 0.09% during mid-day trading on Monday, hitting $11.01. The stock had a trading volume of 905,642 shares. Glimcher Realty Trust has a 1-year low of $8.38 and a 1-year high of $12.20. The stock has a 50-day moving average of $10.34 and a 200-day moving average of $9.72. The company’s market cap is $1.597 billion.
Glimcher Realty Trust (NYSE:GRT) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.01. The company had revenue of $93.20 million for the quarter, compared to the consensus estimate of $98.85 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that Glimcher Realty Trust will post $0.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, June 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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