Wall Street analysts predict that Ramco-Gershenson Properties Trust (NYSE:RPT) will post sales of $64.21 million for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Ramco-Gershenson Properties Trust’s earnings. The highest sales estimate is $65.92 million and the lowest is $62.60 million. Ramco-Gershenson Properties Trust posted sales of $67.83 million in the same quarter last year, which suggests a negative year-over-year growth rate of 5.3%. The business is scheduled to report its next quarterly earnings results on Tuesday, May 1st.
According to Zacks, analysts expect that Ramco-Gershenson Properties Trust will report full year sales of $64.21 million for the current financial year, with estimates ranging from $250.89 million to $266.81 million. For the next fiscal year, analysts forecast that the company will post sales of $266.56 million per share, with estimates ranging from $259.52 million to $273.58 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ramco-Gershenson Properties Trust.
Several research firms have recently weighed in on RPT. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Boenning Scattergood reissued a “sell” rating on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, February 22nd. B. Riley reissued a “buy” rating and issued a $14.00 price target (down previously from $15.50) on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, February 22nd. Jefferies Group set a $13.00 price target on shares of Ramco-Gershenson Properties Trust and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, Raymond James Financial reissued a “hold” rating on shares of Ramco-Gershenson Properties Trust in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.00.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Tuesday, March 20th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, March 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.32%. Ramco-Gershenson Properties Trust’s payout ratio is currently 118.92%.
In related news, CEO Dennis Earl Gershenson acquired 25,000 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was purchased at an average price of $14.58 per share, with a total value of $364,500.00. Following the transaction, the chief executive officer now owns 529,454 shares of the company’s stock, valued at approximately $7,719,439.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.71% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB purchased a new position in shares of Ramco-Gershenson Properties Trust during the 4th quarter worth approximately $209,000. Verition Fund Management LLC purchased a new position in shares of Ramco-Gershenson Properties Trust during the 4th quarter worth approximately $224,000. Ellington Management Group LLC purchased a new position in shares of Ramco-Gershenson Properties Trust during the 4th quarter worth approximately $225,000. Allianz Asset Management GmbH purchased a new position in shares of Ramco-Gershenson Properties Trust during the 3rd quarter worth approximately $264,000. Finally, SG Americas Securities LLC boosted its position in shares of Ramco-Gershenson Properties Trust by 164.1% during the 3rd quarter. SG Americas Securities LLC now owns 25,787 shares of the real estate investment trust’s stock worth $335,000 after purchasing an additional 16,023 shares during the period.
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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