Ramco-Gershenson Properties Trust (RPT) Given Buy Rating at KeyCorp
KeyCorp reiterated their buy rating on shares of Ramco-Gershenson Properties Trust (NYSE:RPT) in a research note published on Wednesday. KeyCorp currently has a $16.00 price objective on the real estate investment trust’s stock.
Several other research firms also recently commented on RPT. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a sell rating to a hold rating in a report on Friday, July 28th. Boenning Scattergood set a $13.00 price target on shares of Ramco-Gershenson Properties Trust and gave the company a sell rating in a research note on Thursday, August 3rd. Jefferies Group LLC downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a hold rating and decreased their price target for the company from $16.00 to $13.00 in a research note on Friday, September 15th. BidaskClub upgraded shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a research report on Wednesday, July 19th. Finally, Raymond James Financial, Inc. reiterated a market perform rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $15.14.
Shares of Ramco-Gershenson Properties Trust (RPT) remained flat at $13.30 on Wednesday. 425,242 shares of the company were exchanged. The firm has a market cap of $1.06 billion, a PE ratio of 32.44 and a beta of 0.74. The stock has a 50-day moving average price of $13.23 and a 200 day moving average price of $13.36. Ramco-Gershenson Properties Trust has a 12 month low of $11.86 and a 12 month high of $18.05.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $67.10 million during the quarter, compared to analyst estimates of $67.05 million. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Equities analysts anticipate that Ramco-Gershenson Properties Trust will post $0.31 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th were paid a dividend of $0.22 per share. The ex-dividend date was Tuesday, September 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.62%. Ramco-Gershenson Properties Trust’s payout ratio is 214.64%.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. grew its stake 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 acquiring an additional 1,310,786 shares during the period. Davis Selected Advisers raised its holdings in shares of Ramco-Gershenson Properties Trust by 18.1% during the 2nd quarter. Davis Selected Advisers now owns 207,051 shares of the real estate investment trust’s stock worth $2,671,000 after acquiring an additional 31,691 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Ramco-Gershenson Properties Trust during the 2nd quarter worth $1,465,000. Legal & General Group Plc raised its holdings in shares of Ramco-Gershenson Properties Trust by 73.3% during the 2nd quarter. Legal & General Group Plc now owns 326,457 shares of the real estate investment trust’s stock worth $4,213,000 after acquiring an additional 138,097 shares during the period. Finally, AXA purchased a new position in shares of Ramco-Gershenson Properties Trust during the 1st quarter worth $555,000. 98.69% of the stock is currently owned by hedge funds and other institutional investors.
Ramco-Gershenson Properties Trust Company Profile
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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