Glimcher Realty Trust Earnings: Here’s Why Investors are Not Happy Now

Glimcher Realty Trust (NYSE:GRT) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.19%.

Glimcher Realty Trust Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 42.86% to $0.2 in the quarter versus EPS of $0.21 in the year-earlier quarter.

Revenue: Rose 26.8% to $91.8 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Glimcher Realty Trust reported adjusted EPS income of $0.2 per share. By that measure, the company missed the mean analyst estimate of $0.2. It beat the average revenue estimate of $89.33 million.

Quoting Management: “We are pleased with another quarter of strong fundamentals turned in from our core mall portfolio,” stated Michael P. Glimcher, Chairman of the Board and CEO. “With portfolio occupancy over 95%, mall store sales per square foot at a record level, and tenant occupancy cost ratios remaining at historic lows, we believe the Company is well positioned to deliver meaningful growth in 2013 and beyond.”

Key Stats (on next page)…

Revenue increased 5.12% from $87.33 million in the previous quarter. EPS increased 42.86% from $0.14 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.17 and has not changed. For the current year, the average estimate is a profit of $0.59, which is the same with that ninety days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)