Pre-Market Activity Shows Heavy Volume And Movement For Glimcher Realty (GRT)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Glimcher Realty ( GRT) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Glimcher Realty as such a stock due to the following factors:

  • GRT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $15.6 million.
  • GRT traded 2.4 million shares today in the pre-market hours as of 9:17 AM, representing 219.3% of its average daily volume.

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More details on GRT:

Glimcher Realty Trust is a publicly owned equity real estate investment trust. It invests in the real estate markets of the United States. The firm is engaged in ownership, development and management of properties. The stock currently has a dividend yield of 3.6%. Currently there are 4 analysts that rate Glimcher Realty a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Glimcher Realty has been 1.1 million shares per day over the past 30 days. Glimcher has a market cap of $1.6 billion and is part of the financial sector and real estate industry. The stock has a beta of 1.84 and a short float of 11.1% with 6.99 days to cover. Shares are up 13.3% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Glimcher Realty as a hold. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.

Highlights from the ratings report include:
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
  • Net operating cash flow has slightly increased to $37.34 million or 1.41% when compared to the same quarter last year. Despite an increase in cash flow, GLIMCHER REALTY TRUST's cash flow growth rate is still lower than the industry average growth rate of 17.00%.
  • GRT, with its decline in revenue, underperformed when compared the industry average of 10.6%. Since the same quarter one year prior, revenues slightly dropped by 8.6%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of weakness within the company. Compared to other companies in the Real Estate Investment Trusts (REITs) industry and the overall market, GLIMCHER REALTY TRUST's return on equity significantly trails that of both the industry average and the S&P 500.
  • The gross profit margin for GLIMCHER REALTY TRUST is rather low; currently it is at 23.53%. It has decreased from the same quarter the previous year. Along with this, the net profit margin of 0.29% significantly trails the industry average.

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