Gramercy Property Trust (GPT) Raises Quarterly Dividend 42.9% to $0.05; 3.5% Yield

Gramercy Property Trust (NYSE: GPT) declared a quarterly dividend of $0.05 per share, or $0.2 annualized. This is a 42.9% increase from the prior dividend of $0.035.

The dividend will be payable on January 15, 2015, to stockholders of record on December 31, 2014, with an ex-dividend date of December 29, 2014.

The annual yield on the dividend is 3.5 percent.

Expected Core FFO of $0.45 - $0.50 per common share. (The Street sees FY14 FFO of $0.49.)

• Assumes contribution from asset management business of approximately $4.4 million net of tax (effective tax rate of 36.0%)
• Assumes management, general and administrative expenses of approximately $17.0 million, including non-cash stock compensation expense
• Assumes 2015 acquisitions having an aggregate gross purchase price (including debt assumed) of $600.0 - $900.0 million (inclusive of today’s announcement of our agreement to acquire 12 assets from Dividend Capital Diversified Property Fund Inc. for approximately $399.0 million and approximately $56.0 million of contracted acquisitions we expect to close in the first quarter of 2015)

For a dividend history and other dividend-related data on Gramercy Property Trust (GPT) click here.

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