- Q2 core FFO OF $74.2M of $0.49 per share vs. $88.6M and $0.62 one year ago. AFFO of $65.9M or $0.44 per share vs. $77.9M and $0.55 a year ago. Dividend is $0.375.
- Ten properties purchased during quarter at an initial cash cap rate of 7.1%. Two land parcels for two build-to-suit projects also purchased, with estimated investment of $49.1M at a 7.6% expected cap rate.
- Eleven properties sold during quarter for $183.3M, or exit cap rate of 5.1%.
- Sold after quarter's end were the assets in Gramercy Property Europe.
- Full-year core FFO per share guidance trimmed to $2.05-$2.10 from $2.10-$2.25, and AFFO to $1.90-$1.95 from $1.95-$2.10. The cut is thanks to a speedy rate of property sales in H1, and purchases not occurring until H2.
- Conference call tomorrow at 11 ET
- Previously: Gramercy Property Trust misses by $0.02 (Aug. 1)
- GPT flat after hours
- Now read: Blackstone (NYSE:BX) Mortgage Trust, Inc. 2017 Q2 - Results - Earnings Call Slides
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