Dennis Earl Gershenson Purchases 25,000 Shares of Ramco-Gershenson Properties Trust (RPT) Stock

Ramco-Gershenson Properties Trust (NYSE:RPT) CEO Dennis Earl Gershenson acquired 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was bought at an average cost of $14.58 per share, for a total transaction of $364,500.00. Following the completion of the purchase, the chief executive officer now owns 529,454 shares of the company’s stock, valued at $7,719,439.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ramco-Gershenson Properties Trust (NYSE:RPT) opened at $14.37 on Friday. Ramco-Gershenson Properties Trust has a 12 month low of $11.86 and a 12 month high of $17.11. The stock has a market capitalization of $1,158.74, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81.

Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Ramco-Gershenson Properties Trust had a return on equity of 6.96% and a net margin of 20.75%. The company had revenue of $64.93 million for the quarter, compared to analyst estimates of $66.07 million. During the same period in the prior year, the firm earned $0.34 earnings per share. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.3% on a year-over-year basis. equities research analysts anticipate that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Wednesday, December 20th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.12%. The ex-dividend date of this dividend was Tuesday, December 19th. Ramco-Gershenson Properties Trust’s payout ratio is 149.15%.

Several large investors have recently modified their holdings of RPT. Bank of Montreal Can raised its position in shares of Ramco-Gershenson Properties Trust by 300.8% during the second quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 6,976 shares during the period. Russell Investments Group Ltd. raised its position in shares of Ramco-Gershenson Properties Trust by 37.6% during the second quarter. Russell Investments Group Ltd. now owns 132,042 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 36,072 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 27.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 785,146 shares of the real estate investment trust’s stock worth $10,129,000 after purchasing an additional 168,049 shares during the period. Arizona State Retirement System bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth $542,000. Finally, First Trust Advisors LP grew its holdings in Ramco-Gershenson Properties Trust by 549.9% during the second quarter. First Trust Advisors LP now owns 171,307 shares of the real estate investment trust’s stock worth $2,210,000 after buying an additional 144,950 shares in the last quarter. 98.23% of the stock is currently owned by institutional investors.

RPT has been the topic of a number of recent analyst reports. Jefferies Group reaffirmed a “hold” rating and issued a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Monday, October 16th. Raymond James Financial reaffirmed a “hold” rating on shares of Ramco-Gershenson Properties Trust in a research note on Tuesday, December 12th. Zacks Investment Research lowered Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. KeyCorp reissued a “buy” rating and issued a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a research note on Wednesday, October 4th. Finally, BTIG Research lowered Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.13.

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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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