Goldman Sachs Resumes Coverage on Glimcher Realty Trust (GRT) at Neutral; Turnaround Strides, But High Leverage

Goldman Sachs resumes coverage on Glimcher Realty Trust (NYSE: GRT) with a Neutral. PT $11.00.

Analyst, Andrew Rosivach, said, "GRT should show material 2013 earnings growth (16% versus our sector at 8%) as it comps against below-normal 2012 earnings (the company had $0.04 per share of earnings drag related to the investment of proceeds from its 1Q 2012 equity offering)...Potential capital recycling dilution related to portfolio improvement places our 2012-17 FFO growth estimate (34%) slightly below the sector average (38%)."

For an analyst ratings summary and ratings history on Glimcher Realty Trust click here. For more ratings news on Glimcher Realty Trust click here.

Shares of Glimcher Realty Trust closed at $10.41 yesterday.

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