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Glimcher Realty Trust (NYSE:GRT) was downgraded by investment analysts at Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday, reports. The analysts noted that the move was a valuation call.

Glimcher Realty Trust (NYSE:GRT) traded down 1.61% on Monday, hitting $10.98. 1,878,055 shares of the company’s stock traded hands. Glimcher Realty Trust has a 52-week low of $8.38 and a 52-week high of $12.10. The stock’s 50-day moving average is $10.95 and its 200-day moving average is $10.. The company’s market cap is $1.596 billion.

Glimcher Realty Trust (NYSE:GRT) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.18 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.18. The company had revenue of $97.93 million for the quarter, compared to the consensus estimate of $97.70 million. During the same quarter last year, the company posted $0.23 earnings per share. Glimcher Realty Trust’s revenue was up 3.1% compared to the same quarter last year. Analysts expect that Glimcher Realty Trust will post $0.76 EPS for the current fiscal year.

A number of other firms have also recently commented on GRT. Analysts at TheStreet upgraded shares of Glimcher Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, July 3rd. Separately, 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 Jefferies Group raised their price target on shares of Glimcher Realty Trust from $10.00 to $10.50 in a research note on Monday, April 28th. They now have a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.00.

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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