Boenning Scattergood Analysts Give Ramco-Gershenson Properties Trust (RPT) a $13.00 Price Target
Boenning Scattergood set a $13.00 price objective on Ramco-Gershenson Properties Trust (NYSE:RPT) in a research report report published on Wednesday morning. The brokerage currently has a sell rating on the real estate investment trust’s stock. Boenning Scattergood also issued estimates for Ramco-Gershenson Properties Trust’s Q1 2018 earnings at $0.33 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.34 EPS and FY2018 earnings at $1.34 EPS.
“We are reducing our estimates to reflect the guidance, lowering FFO per share estimate in 2018 by four cents to $1.34 per share.”,” Boenning Scattergood’s analyst commented.
RPT has been the topic of a number of other reports. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a sell rating to a hold rating in a research note on Saturday, November 11th. BTIG Research downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a neutral rating in a report on Thursday, November 2nd. Robert W. Baird restated a hold rating and set a $13.00 price target on shares of Ramco-Gershenson Properties Trust in a report on Thursday, August 24th. B. Riley restated a buy rating on shares of Ramco-Gershenson Properties Trust in a report on Thursday, November 2nd. Finally, DA Davidson downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a neutral rating and set a $14.00 price target for the company. in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $15.13.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. Ramco-Gershenson Properties Trust had a net margin of 20.75% and a return on equity of 6.96%. The business had revenue of $64.93 million for the quarter, compared to analyst estimates of $66.07 million. During the same period last year, the company posted $0.34 EPS. The business’s revenue was up 1.3% on a year-over-year basis. equities research analysts expect that Ramco-Gershenson Properties Trust will post 1.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.98%. Ramco-Gershenson Properties Trust’s dividend payout ratio is currently 149.15%.
Several hedge funds and other institutional investors have recently made changes to their positions in RPT. Principal Financial Group Inc. increased its holdings in shares of Ramco-Gershenson Properties Trust by 15,951.1% during the 2nd quarter. Principal Financial Group Inc. now owns 2,953,395 shares of the real estate investment trust’s stock worth $38,100,000 after buying an additional 2,934,995 shares during the last quarter. Sorin Capital Management LLC acquired a new stake in shares of Ramco-Gershenson Properties Trust during the 2nd quarter worth approximately $17,036,000. Prudential Financial Inc. increased its holdings in Ramco-Gershenson Properties Trust by 1,638.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,390,766 shares of the real estate investment trust’s stock valued at $17,941,000 after purchasing an additional 1,310,786 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Ramco-Gershenson Properties Trust by 26.5% in the 2nd quarter. Macquarie Group Ltd. now owns 5,388,665 shares of the real estate investment trust’s stock valued at $69,513,000 after purchasing an additional 1,128,505 shares during the last quarter. Finally, NWQ Investment Management Company LLC increased its holdings in Ramco-Gershenson Properties Trust by 34.0% in the 3rd quarter. NWQ Investment Management Company LLC now owns 3,923,161 shares of the real estate investment trust’s stock valued at $51,040,000 after purchasing an additional 995,250 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.
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About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust is an equity real estate investment trust. The Company’s primary business is the ownership, management, redevelopment, development and operation of retail shopping centers. As of December 31, 2016, it owned and managed multi-anchored shopping centers in 12 metropolitan markets in the United States.
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