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Gramercy Property Trust Reaffirms 2016 Guidance and Announces Fiscal Year 2017 Earnings Guidance

GPT

NEW YORK--(BUSINESS WIRE)--Gramercy Property Trust (NYSE:GPT), a real estate investment trust, announced today that it has reaffirmed previously announced 2016 guidance and provided anticipated fiscal year 2017 earnings guidance, as follows:

  • Expected Core FFO of $0.70 - $0.75 per common share, or $2.10 - $2.25 per common share after the Company’s 1-for-3 reverse share split, effective on December 30, 2016, and
  • Expected AFFO of $0.65 - $0.70 per common share, or $1.95 - $2.10 per common share after the Company’s 1-for-3 reverse share split, effective on December 30, 2016.

Assumptions and a further discussion of 2017 earnings guidance can be found in a presentation on the Company’s website, www.gptreit.com.

2017 Earnings Guidance Call

The Company's executive management team will be hosting a conference call and audio webcast on Tuesday, December 20, 2016, at 10:00 AM EST to discuss guidance and answer questions. Presentation materials will be posted prior to the call on the Company’s website, www.gptreit.com.

Interested parties may access the live call by dialing 1-877-264-6786, or for international participants 1-412-542-4146, using confirmation code, “Gramercy Property Trust 2017 Guidance.” Additionally, the live call will be webcast in listen-only mode on the Company’s website at www.gptreit.com in the Investor Relations section.

A replay of the call will be available at 5:00 PM EST, December 20, 2016, through midnight, January 3, 2017, by dialing 1-877-344-7529, or for international participants 1-412-317-0088, using the access code 10097777.

About Gramercy Property Trust

Gramercy Property Trust is a leading global investor and asset manager of commercial real estate. The Company specializes in acquiring and managing single-tenant, net-leased industrial and office properties. The Company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe.

To review the Company’s latest news releases and other corporate documents, please visit the Company's website at www.gptreit.com or contact Investor Relations at 1-888-686-0112.