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Glimcher, Ramco-Gersenson Report Results

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Just the facts for now. All comparisons are with the third quarter of 2007.

Glimcher Realty Trust

* FFO per diluted share: $0.46, down $0.04

* Revenues: $81.4 million; Up 10.8%

* Earnings per diluted share: -$0.09; down from $1.23 gain

* Net loss to shareholders: $3.4 million; down from $46.4 million gain

* NOI: down 1%

* Average rents: $18.03 per sq ft.; Up 1%

* Re-leasing spreads: Up 19%

* Occupancy: 92.6%; down 90 basis points

* Sales per sq. ft: $363; down $4

* Debt-to-total-market capitalization ratio: 72.7 percent; up from 67.1 (12/07)

* Diluted net income per share projection for 2008: $2.02 to $2.10

Ramco-Gershenson Properties Trust

* FFO per diluted share: $0.63, down $0.03

* Revenues: $81.4 million; Up 10.8%

* Net income per diluted share: $0.63; up $0.48

* Net income: $11.6 million; up $8.3 million gain

* New store rents: $18.03 per sq ft.; 67% above portfolio average rents

* Renewal rents: $9.73 per sq ft; Up 7.3%

* Occupancy: 95.3%; down 90 basis points

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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