Boston, MA 06\/02\/2014 (wallstreetpr) \u2013\u00a0<\/b>Gramercy Property Trust Inc (NYSE:GPT)<\/b> concluded the month of May with three important property acquisitions that will add about $2.8 million to the company\u2019s net operating income in the first year. The company spent $39.6 million to acquire the properties that measure a total of 423,000-square-foot on. The properties are already fully leased under rent escalations terms that stretch between five years to 2029.<\/p>\n
One of the properties is 309,000-square-foot facility in Illinois, Chicago that is 100 percent leased. The other property measures 89,000-square-foot and is located Nashville Tennessee and is 100 percent leased. The third property measures 25,000-square-foot in St. Louis, Missouri and is leased for an average of five years to two tenants.<\/p>\n
Gramercy Property Trust Inc (NYSE:GPT), like most other real estate companies, is balancing its property portfolio whereby it is giving up some assets in favor of investment in promising locations. The company earned 5 cents per share in 1Q2014, beating the consensus estimate of 1 cents per share in the quarter.<\/p>\n
Annaly Capital Management, Inc. (NYSE:NLY)<\/b> is putting all concerted efforts to preserve shareholder value. The real estate operator is trying to preserve the value for its shareholders through expansion and diversification. The moves also mirror attempts by the management to adjust accordingly to the anticipated high interest rate environment and Fed tapering of bond purchases.<\/p>\n
In its expansion and diversification efforts, Annaly Capital Management is channel funds to boost commercial real estate assets. Moving from $1 billion in commercial assets as of June 30, 2013, the company had $1.7 billion in commercial real estate assets as of March 31, 2014. The company is also making strategic partnerships to support its investment thesis with the bottom line goal of improving revenue and profitability.<\/p>\n
Incyte Corporation (NASDAQ:INCY)<\/b> continues with its collaborative agreements with the latest one involving Bristol-Myers Squibb Co (NYSE:BMY)<\/b>. The new collaboration with BMY involves Phase 1\/2 study that aims to evaluate combined experimental drugs from the INCY and BMY for the treatment of multiple tumors.<\/p>\n
The studies will be spearheaded by Incyte Corporation (NASDAQ:INCY) and will focus on the safety, tolerability and efficacy of the drugs in combined treatment. Both companies will fund the project. Earlier on, INCY entered a collaborative arrangement with AstraZeneca plc (ADR) (NYSE:AZN)<\/b> as it has done with other drug companies.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/02\/2014 (wallstreetpr) \u2013\u00a0Gramercy Property Trust Inc (NYSE:GPT) concluded the month of May with three important property acquisitions that will add about $2.8 million […]<\/p>\n","protected":false},"author":9,"featured_media":24242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3287,4503,6997,1736,6999,1737,4504,997,6998,3288],"stock_ticker":[],"class_list":["post-24238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-annaly-capital-management-inc-nysenly","tag-astrazeneca-plc-adr-nyseazn","tag-gramercy-property-trust-inc-nysegpt","tag-incyte-corporation-nasdaqincy","tag-myers-squibb-co-nysebmy","tag-nasdaqincy","tag-nyseazn","tag-nysebmy","tag-nysegpt","tag-nysenly","entry"],"acf":[],"yoast_head":"\n