Ramco-Gershenson Properties Trust (NYSE:RPT) shares saw an uptick in trading volume on Thursday . 1,312,985 shares changed hands during mid-day trading, an increase of 92% from the previous session’s volume of 684,043 shares.The stock last traded at $13.41 and had previously closed at $13.31.
Several brokerages recently issued reports on RPT. Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. Boenning Scattergood set a $13.00 price target on Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research report on Thursday, August 3rd. Jefferies Group LLC cut Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and dropped their price target for the company from $16.00 to $13.00 in a research report on Friday, September 15th. BidaskClub upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, KeyCorp restated a “buy” rating and issued a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.14.
The company has a market cap of $1.06 billion, a PE ratio of 32.71 and a beta of 0.74. The stock’s 50-day moving average is $13.23 and its 200 day moving average is $13.34.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The firm had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $67.05 million. During the same quarter last year, the company posted $0.35 earnings per share. Ramco-Gershenson Properties Trust’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Ramco-Gershenson Properties Trust will post $0.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th were paid a $0.22 dividend. The ex-dividend date was Tuesday, September 19th. This represents a $0.88 annualized dividend and a dividend yield of 6.56%. Ramco-Gershenson Properties Trust’s payout ratio is currently 214.64%.
Large investors have recently made changes to their positions in the business. InvenTrust Properties Corp. acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter valued at approximately $1,055,000. Prudential Financial Inc. increased its stake in shares of Ramco-Gershenson Properties Trust by 1,638.9% in the second 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 period. Davis Selected Advisers increased its stake in shares of Ramco-Gershenson Properties Trust by 18.1% in the second quarter. Davis Selected Advisers now owns 207,051 shares of the real estate investment trust’s stock valued at $2,671,000 after purchasing an additional 31,691 shares during the period. Legal & General Group Plc increased its stake in shares of Ramco-Gershenson Properties Trust by 73.3% in the second quarter. Legal & General Group Plc now owns 326,457 shares of the real estate investment trust’s stock valued at $4,213,000 after purchasing an additional 138,097 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter valued at approximately $1,465,000. Institutional investors own 98.69% 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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