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Glimcher Realty Trust Message Board

  • LA_Lost_Boy LA_Lost_Boy Sep 11, 2000 10:59 AM Flag

    Ask at $16..GRT trying it's hardest to

    take out it's 52 week high of 16 1/8, set on Sep 27th last year..If it breaks we could see a 1/2 rally easy..

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    • I bought GRT as a long term hold for the high
      income hoping they would start raising the dividend next

      It looks like GRT is very well run. I'm sure they
      have their share of dog ppties or ppties in need of

      Oh, by the way, I did find a Merrill
      Lynch note 3 months ago that mentioned that 3 JCPennies
      in GRT ppties will be closed at the end of the lease
      period. Maybe they are in older centers.

      question is do you think that GRT is a good long term
      hold? I'm talking next 5 years or so. I cannot figure
      out why a 10% FFO grower is not getting the
      recognition I would think it deserves.

      • 1 Reply to ferdiefor
      • ferdiefor - I have a lot of respect for you based
        on posts on other REIT boards. Be careful here - GRT
        has too much debt, conflicted management. They built
        two Mills-type projects, one of which is moderately
        OK (Elizabeth, NJ), but the other (Olathe, KS) is a
        disaster. They take a lot of development risk. Their
        COO/CFO, Bill Cornelley, is a credible and competent guy.
        The stock, however, is not particularly cheap given
        the risk.