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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Saturday, August 17, 1:27 PM

Slide #375. Glimcher Realty Trust Preferred Stock Offering

Company: Glimcher Realty Trust (GRT)
Date announced: 3/22/2013
Shares Offered: 3,600,000
Price Per Share: $25.00
Preferred Stock Offering Details: Glimcher Realty Trust (NYSE:GRT) today announced that it has priced the underwritten public offering of 3,600,000 of its 6.875% Series I Cumulative Redeemable Preferred Shares of Beneficial Interest (the "Series I Preferred Shares") at $25.00 per share. The offering is expected to close on March 27, 2013, subject to customary closing conditions. Distributions on the Series I Preferred Shares will be paid quarterly at a rate of 6.875% per annum of the liquidation preference of $25.00 per share, which is equivalent to $1.71875 per share on an annualized basis. The underwriters for the public offering have been granted a 30-day option to purchase up to 400,000 additional Series I Preferred Shares solely to cover overallotments, if any.

Glimcher Realty Trust is a self-administered and self-managed real estate investment trust. Co. owns, leases, manages and develops a portfolio of retail properties (Properties). The Properties consist of open-air centers, enclosed regional malls, outlet centers and community shopping centers. As of Dec 31 2013, Co. owned material interests in and managed 28 Properties which are located in 15 states. The properties contain contain an aggregate of approx. 19,300,000 sq. ft. of gross leasable area. Co., by and through its affiliates, holds service marks for the term GLIMCHER® and certain of its Property names such as Scottsdale Quarter®, and Polaris Fashion Place®.

Preferreds: GRT.PRF.CL, GRT.PRG, GRT.PRH, GRT.PRI


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Name:  Glimcher Realty Trust
Website:  www.glimcher.com
Sector:  REITs
 

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