Gramercy Property Trust Inc.: Gramercy Property Trust Reports Preliminary First Quarter 2017 Financial Results

NEW YORK–(BUSINESS WIRE)– Gramercy Property Trust (NYSE:GPT) today reported preliminary financial results for the first quarter ended March 31, 2017.

Preliminary Financial Results:

The preliminary results provided in this release are estimates of the financial results that the Company expects to report when it issues its financial statements for the first quarter of 2017 on May 2, 2017. These estimates are preliminary and are subject to adjustments that may result from the completion of the Company’s quarter-end financial and accounting procedures and review. The Company’s independent registered public accounting firm has not audited or reviewed the preliminary results provided in this release, nor has it provided any form of assurance on the preliminary results. The Company’s actual financial results may be materially different from the estimates presented in this release and should not be viewed as a substitute for full financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP. The preliminary estimates in this release for the period presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2017 or any other future period. Factors that could cause these estimates to differ include, but are not limited to, reviewing adjustments and the discovery of new information that alters expectations about first quarter results or that impacts estimates and assumptions underlying these preliminary results.

The following table sets forth management’s estimated ranges for financial results for the first quarter of 2017:

(in millions, except per share data) Three Months Ended
March 31, 2017
(unaudited)
Total revenues $128.0 – $130.0
Net income to common shareholders and unitholders $6.0 – $7.5
Net income per common share $0.04 – $0.05
FFO available to common shareholders and unitholders

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