Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Glimcher Realty Trust's Sloan Ratio for the quarter that ended in Sep. 2014 was 0.61%.
As of Sep. 2014, Glimcher Realty Trust has a Sloan Ratio of 0.61%, indicating the company is in the safe zone and there is no funny business with accruals.
Glimcher Realty Trust Sloan Ratio % Historical Data
The historical data trend for Glimcher Realty Trust's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Glimcher Realty Trust's Sloan Ratio %
For the REIT - Retail subindustry, Glimcher Realty Trust's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Glimcher Realty Trust's Sloan Ratio % Distribution in the REITs Industry
For the REITs industry and Real Estate sector, Glimcher Realty Trust's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Glimcher Realty Trust's Sloan Ratio % falls into.
Glimcher Realty Trust Sloan Ratio % Calculation
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Glimcher Realty Trust's Sloan Ratio for the fiscal year that ended in Dec. 2013 is calculated as
Glimcher Realty Trust's Net Income for the trailing twelve months (TTM) ended in Sep. 2014 was -31.481 (Dec. 2013 ) + -1.192 (Mar. 2014 ) + 0.214 (Jun. 2014 ) + 10.945 (Sep. 2014 ) = €-21.5 Mil.
Glimcher Realty Trust's Cash Flow from Operations for the trailing twelve months (TTM) ended in Sep. 2014 was 20.669 (Dec. 2013 ) + 18.73 (Mar. 2014 ) + 27.484 (Jun. 2014 ) + 27.009 (Sep. 2014 ) = €93.9 Mil.
Glimcher Realty Trust's Cash Flow from Investing for the trailing twelve months (TTM) ended in Sep. 2014 was -50.547 (Dec. 2013 ) + -46.727 (Mar. 2014 ) + -8.827 (Jun. 2014 ) + -21.604 (Sep. 2014 ) = €-127.7 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Glimcher Realty Trust (FRA:GRY) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Sep. 2014, Glimcher Realty Trust has a Sloan Ratio of 0.61%, indicating the company is in the safe zone and there is no funny business with accruals.
Glimcher Realty Trust Sloan Ratio % Related Terms
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Glimcher Realty Trust is a self-administered and self-managed Maryland real estate investment trust which was formed on September 1, 1993. The Company and its affiliates are engaged in owning, leasing, acquiring, developing and operating a portfolio of retail properties consisting of regional and super regional malls and community shopping centers. At December 31, 2013, the Company owned material interests in and managed 28 properties - 25 wholly-owned and 3 partially owned through joint ventures which are located in 15 states. The Properties contain an aggregate of approximately 19.3 million square feet of gross leasable area of which approximately 95.6% was occupied at December 31, 2013. The Malls provide a range of shopping alternatives to serve the needs of customers in all market segments. The Company's Malls are in various formats such as enclosed regional malls, open-air retail centers, and outlet centers. Malls are generally anchored by multiple department stores such as Belk's, The Bon-Ton, Boscov's, Dick's Sporting Goods, Dillard's, Elder-Beerman, Herberger's, JCPenney, Kohl's, Macy's, Saks, Sears, and Von Maur. Mall stores, most of which are national retailers, include Abercrombie & Fitch, American Eagle Outfitters, Apple, Bath & Body Works, Express, Finish Line, Foot Locker, Forever 21, H&M, Hallmark, Kay Jewelers, The Limited, lululemon athletica, Pacific Sunwear, and Victoria's Secret. The Malls also have additional restaurants and retail businesses, such as Benihana, Cheesecake Factory, P.F. Chang's, and Red Lobster, located along the perimeter of the parking areas. The Company's Community Centers are designed to attract local and regional area customers and are typically anchored by a combination of discount department stores or supermarkets which attract shoppers to each center's smaller shops. The tenants at the Company's Community Centers typically offer day-to-day necessities and value-oriented merchandise. Many of the Community Centers have retail businesses or restaurants located along the perimeter of the parking areas. There are numerous shopping facilities that compete with the Company's Properties in attracting retailers to lease space.
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