Gramercy Property Trust Makes Big Buys in Search of Growth
In real estate, size matters, and most real estate investment trusts are continually on the lookout for new properties to acquire. Gramercy Property Trust (NYSE: GPT) has done a good job of finding growth opportunities in the past, and in a favorable environment for real estate deals, the REIT has been able to accelerate the pace of its acquisitions in order to maximize its expansion.
Coming into Tuesday's third-quarter financial report, Gramercy investors wanted to see modest improvements in key metrics like funds from operations, but they also sought updates on the long-range prospects for the REIT. Gramercy did a good job of growing, and although some company watchers might have preferred stronger results, the REIT seems to be on track to execute on its long-term strategy. Let's look more closely at Gramercy Property Trust to see how it's been doing lately.
Image source: Gramercy Property Trust.
Source: Fool.com
