Ramco-Gershenson Properties Trust (NYSE:RPT) has earned an average recommendation of “Hold” from the seven analysts that are covering the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $20.38.
A number of equities research analysts have recently weighed in on RPT shares. Zacks Investment Research lowered Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Robert W. Baird lowered Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group reiterated a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, August 22nd. Boenning Scattergood lowered Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research report on Tuesday, June 28th. Finally, Wunderlich lifted their price objective on Ramco-Gershenson Properties Trust from $20.00 to $21.50 and gave the stock a “buy” rating in a research report on Friday, August 5th.
Shares of Ramco-Gershenson Properties Trust (NYSE:RPT) opened at 18.80 on Tuesday. The company’s 50-day moving average price is $18.92 and its 200 day moving average price is $18.60. Ramco-Gershenson Properties Trust has a one year low of $14.86 and a one year high of $20.24. The company has a market cap of $1.49 billion, a P/E ratio of 18.50 and a beta of 1.10.
Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. Ramco-Gershenson Properties Trust had a return on equity of 10.80% and a net margin of 33.04%. The business had revenue of $65.90 million for the quarter, compared to analyst estimates of $65.76 million. The firm’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts anticipate that Ramco-Gershenson Properties Trust will post $1.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Tuesday, September 20th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, September 16th. This is a boost from Ramco-Gershenson Properties Trust’s previous quarterly dividend of $0.21. Ramco-Gershenson Properties Trust’s dividend payout ratio (DPR) is presently 88.89%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. boosted its position in Ramco-Gershenson Properties Trust by 20.0% in the second quarter. Cohen & Steers Inc. now owns 9,759,451 shares of the real estate investment trust’s stock worth $209,340,000 after buying an additional 1,629,927 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter worth about $15,195,000. Norges Bank bought a new position in shares of Ramco-Gershenson Properties Trust during the fourth quarter worth about $12,236,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter worth about $12,726,000. Finally, Hillcrest Asset Management LLC bought a new position in shares of Ramco-Gershenson Properties Trust during the first quarter worth about $8,668,000.
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust is an integrated real estate investment trust. The Company’s primary business is the ownership and management of multi-anchored shopping centers primarily in approximately 10 metropolitan markets in the United States. The Company’s property portfolio includes approximately 70 shopping centers and an office building comprising approximately 15.3 million square feet.
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