Emerald Mutual Fund Advisers Trust increased its position in Ramco-Gershenson Properties Trust (NYSE:RPT) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 24,821 shares of the real estate investment trust’s stock after buying an additional 1,162 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Ramco-Gershenson Properties Trust were worth $487,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Pensionfund Sabic bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter worth about $157,000. Schonfeld Strategic Advisors LLC bought a new position in shares of Ramco-Gershenson Properties Trust during the first quarter worth about $280,000. 1st Global Advisors Inc. increased its position in shares of Ramco-Gershenson Properties Trust by 0.4% in the second quarter. 1st Global Advisors Inc. now owns 16,396 shares of the real estate investment trust’s stock worth $322,000 after buying an additional 63 shares during the period. Aperio Group LLC increased its position in shares of Ramco-Gershenson Properties Trust by 42.4% in the first quarter. Aperio Group LLC now owns 20,501 shares of the real estate investment trust’s stock worth $370,000 after buying an additional 6,100 shares during the period. Finally, Pensionfund DSM Netherlands bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter worth about $431,000.
Ramco-Gershenson Properties Trust (NYSE:RPT) traded down 0.73% during midday trading on Friday, hitting $17.63. The stock had a trading volume of 421,845 shares. The company has a market cap of $1.40 billion, a P/E ratio of 17.35 and a beta of 0.94. Ramco-Gershenson Properties Trust has a 12 month low of $15.50 and a 12 month high of $20.24. The firm’s 50-day moving average price is $18.74 and its 200 day moving average price is $18.63.
Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned $65.90 million during the quarter, compared to analysts’ expectations of $65.76 million. Ramco-Gershenson Properties Trust’s revenue was up 10.4% compared to the same quarter last year. On average, analysts expect that Ramco-Gershenson Properties Trust will post $1.37 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Tuesday, September 20th were issued a $0.22 dividend. This is a boost from Ramco-Gershenson Properties Trust’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Friday, September 16th. Ramco-Gershenson Properties Trust’s dividend payout ratio is presently 88.89%.
A number of brokerages have recently issued reports on RPT. Wunderlich raised 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. Boenning Scattergood downgraded Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a report on Tuesday, June 28th. Jefferies Group assumed coverage on Ramco-Gershenson Properties Trust in a report on Thursday, June 30th. They issued a “buy” rating and a $22.00 target price for the company. Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Finally, Robert W. Baird downgraded Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 target price for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Ramco-Gershenson Properties Trust currently has a consensus rating of “Hold” and an average target price of $20.36.
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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