Shares of Gramercy Property Trust (NYSE:GPT) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 0.31% at $9.74 with 2.18 million shares getting traded. Post opening the session at $9.62, the shares hit an intraday low of $9.54 and an intraday high of $9.76 and the price vacillated in this range throughout the day. The company has a market cap of $4.19 billion and the numbers of outstanding shares have been calculated to be 421.86 million shares.
Gramercy Property Trust (GPT) on September 21, 2016 announced that the Company has priced $350.0 million in senior unsecured notes, consisting of $150.0 million of notes with a six-year term priced at a fixed interest rate of 3.89%, $100.0 million of notes with a nine-year term priced at a fixed interest rate of 4.26%, and $100.0 million of notes with a ten-year term priced at a fixed interest rate of 4.32%, resulting in a weighted average maturity of 8.0 years and a weighted average fixed interest rate of 4.12%. The note sale is subject to finalization of documentation and is expected to close on December 15, 2016.
Shares of State Street Corp (NYSE:STT) ended Friday session in red amid volatile trading. The shares closed down -0.42 points or -0.59% at $70.62 with 2.11 million shares getting traded. Post opening the session at $70.64, the shares hit an intraday low of $70.37 and an intraday high of $71.15 and the price vacillated in this range throughout the day. The company has a market cap of $27.53 billion and the numbers of outstanding shares have been calculated to be 390.02 million shares.
On September 19, 2016 State Street Global Advisors (SSGA), the asset management business of State Street Corporation (STT), announced the expansion of its smart beta solutions with a new fixed income smart beta strategy that aims to capture maximum returns in the current climate of rising rates and increased fixed income volatility. SSGA’s fixed income smart beta strategies give institutional investors more control over their investment objectives by moving beyond traditionally weighted benchmarks and generating results through exposure to credit, term or liquidity factor premia.
“Our fixed income strategy has evolved from a one-factor screen to a multi-factor framework featuring research based factor definitions, dynamic weighting and continuous portfolio reweighting as factor exposures change,” said Lori Heinel, deputy chief investment officer and chief portfolio strategist at State Street Global Advisors. “SSGA’s fixed income smart beta solution can both improve returns and decrease volatility by isolating factors with greater precision.”