Gramercy Capital Corp. (GKK, Financial) filed Quarterly Report for the period ended 2012-03-31.
Gramercy Cap Cp has a market cap of $133 million; its shares were traded at around $2.67 with a P/E ratio of 0.4 and P/S ratio of 0.6.
Rental revenue for the three months ended March 31, 2012 and 2011 of $1,319 and $1,384, respectively, is primarily comprised of revenue earned on properties within our Gramercy Realty division. The decrease in rental revenue of $65 is primarily due to non-renewals and terminations of non-bank tenants.
Other income of $2,393 for the three months ended March 31, 2012 is primarily comprised of $2,325 of operating revenues from properties which we foreclosed or acquired a controlling interest. Other income of $3,694 for the three months ended March 31, 2011 was primarily comprised of $2,970 of operating revenues from properties on which we foreclosed or acquired a controlling interest and $724 in interest on restricted cash balances and other cash balances held by us.
Liquidity is a measurement of the ability to meet cash requirements, including ongoing commitments to repay borrowings, fund and maintain loans and other investments, pay dividends and other general business needs. In addition to cash on hand, our primary sources of funds for short-term (within the next 12 months) liquidity requirements, including working capital, distributions, if any, debt service and additional investments, if any, consist of: (i) cash flow from operations; (ii) proceeds and management fees from our existing CDOs; (iii) proceeds from principal and interest payments and rents on our investments; (iv) proceeds from potential loan and asset sales; (v) proceeds from the Management Agreement for the KBS portfolio; and, to a lesser extent: (vi) new financings or additional securitizations or CDO offerings; and (vii) proceeds from additional common or preferred equity offerings. We believe these sources of financing will be sufficient to meet our short-term liquidity requirements. We do not anticipate having the ability in the near-term to access new equity or debt capital through new warehouse lines, CDO issuances, term or credit facilities or trust preferred issuances, although we continue to explore capital raising options. In the event we are not able to successfully secure financing, we will rely primarily on cash on hand, cash flows from operations, principal, interest and lease payments on our investments, management fees, and proceeds from asset and loan sales to satisfy our liquidity requirements. If we (i) are unable to renew, replace or expand our sources of financing, (ii) are unable to execute asset and loan sales in a timely manner or to receive anticipated proceeds from them or (iii) fully utilize available cash, it may have an adverse effect on our business, results of operations, and ability to make distributions to our stockholders.
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Gramercy Cap Cp has a market cap of $133 million; its shares were traded at around $2.67 with a P/E ratio of 0.4 and P/S ratio of 0.6.
Highlight of Business Operations:
Liquidity is a measurement of the ability to meet cash requirements, including ongoing commitments to repay borrowings, fund and maintain loans and other investments, pay dividends and other general business needs. In addition to cash on hand, our primary sources of funds for short-term (within the next 12 months) liquidity requirements, including working capital, distributions, if any, debt service and additional investments, if any, consists of (i) cash flow from operations; (ii) proceeds and management fees from our existing CDOs; (iii) proceeds from principal and interest payments and rents on our investments; (iv) proceeds from potential loan and asset sales; (v) proceeds from the Management Agreement for the KBS Portfolio; and, to a lesser extent: (vi) new financings or additional securitizations or CDO offerings and (vii) proceeds from additional common or preferred equity offerings. We believe these sources of financing will be sufficient to meet our short-term liquidity requirements. We do not anticipate having the ability in the near term to access new equity or debt capital through new warehouse lines, CDO issuances, term or credit facilities or trust preferred issuances, although we continue to explore capital raising options. In the event we are not able to successfully secure financing, we will rely primarily on cash on hand, cash flows from operations, principal, interest and lease payments on our investments, management fees and proceeds from asset and loan sales to satisfy our liquidity requirements. If we (i) are unable to renew, replace or expand our sources of financing, (ii) are unable to execute asset and loan sales in a timely manner or to receive anticipated proceeds from them or (iii) fully utilize available cash, it may have an adverse effect on our business, results of operations, and ability to make distributions to our stockholders.Rental revenue for the three months ended March 31, 2012 and 2011 of $1,319 and $1,384, respectively, is primarily comprised of revenue earned on properties within our Gramercy Realty division. The decrease in rental revenue of $65 is primarily due to non-renewals and terminations of non-bank tenants.
Other income of $2,393 for the three months ended March 31, 2012 is primarily comprised of $2,325 of operating revenues from properties which we foreclosed or acquired a controlling interest. Other income of $3,694 for the three months ended March 31, 2011 was primarily comprised of $2,970 of operating revenues from properties on which we foreclosed or acquired a controlling interest and $724 in interest on restricted cash balances and other cash balances held by us.
Liquidity is a measurement of the ability to meet cash requirements, including ongoing commitments to repay borrowings, fund and maintain loans and other investments, pay dividends and other general business needs. In addition to cash on hand, our primary sources of funds for short-term (within the next 12 months) liquidity requirements, including working capital, distributions, if any, debt service and additional investments, if any, consist of: (i) cash flow from operations; (ii) proceeds and management fees from our existing CDOs; (iii) proceeds from principal and interest payments and rents on our investments; (iv) proceeds from potential loan and asset sales; (v) proceeds from the Management Agreement for the KBS portfolio; and, to a lesser extent: (vi) new financings or additional securitizations or CDO offerings; and (vii) proceeds from additional common or preferred equity offerings. We believe these sources of financing will be sufficient to meet our short-term liquidity requirements. We do not anticipate having the ability in the near-term to access new equity or debt capital through new warehouse lines, CDO issuances, term or credit facilities or trust preferred issuances, although we continue to explore capital raising options. In the event we are not able to successfully secure financing, we will rely primarily on cash on hand, cash flows from operations, principal, interest and lease payments on our investments, management fees, and proceeds from asset and loan sales to satisfy our liquidity requirements. If we (i) are unable to renew, replace or expand our sources of financing, (ii) are unable to execute asset and loan sales in a timely manner or to receive anticipated proceeds from them or (iii) fully utilize available cash, it may have an adverse effect on our business, results of operations, and ability to make distributions to our stockholders.
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