Robert W. Baird Initiates Coverage on RPT Realty (NYSE:RPT)


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Robert W. Baird initiated coverage on shares of RPT Realty (NYSE:RPT) in a research report released on Tuesday morning, The Fly reports. The brokerage issued a neutral rating on the real estate investment trust’s stock.

RPT has been the subject of a number of other reports. Jefferies Financial Group upgraded shares of RPT Realty from a hold rating to a buy rating and increased their target price for the company from $8.00 to $10.00 in a research report on Wednesday, January 13th. Zacks Investment Research upgraded shares of RPT Realty from a sell rating to a hold rating in a research report on Wednesday, March 17th. Deutsche Bank Aktiengesellschaft upgraded shares of RPT Realty from a hold rating to a buy rating and raised their price objective for the stock from $7.00 to $10.00 in a research report on Tuesday, December 15th. TheStreet cut shares of RPT Realty from a c- rating to a d+ rating in a research report on Thursday, February 18th. Finally, JPMorgan Chase & Co. upgraded shares of RPT Realty from an underweight rating to a neutral rating and set a $9.00 price objective for the company in a research report on Monday, December 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $11.25.

RPT opened at $12.17 on Tuesday. The company has a quick ratio of 5.30, a current ratio of 5.30 and a debt-to-equity ratio of 1.48. The company has a market cap of $986.90 million, a price-to-earnings ratio of 17.39, a PEG ratio of 6.06 and a beta of 1.55. RPT Realty has a 52-week low of $4.79 and a 52-week high of $12.95. The firm’s fifty day simple moving average is $11.80 and its two-hundred day simple moving average is $8.80.

RPT Realty (NYSE:RPT) last posted its quarterly earnings data on Wednesday, February 17th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.28). RPT Realty had a net margin of 33.76% and a return on equity of 9.40%. On average, research analysts forecast that RPT Realty will post 0.82 EPS for the current year.

The firm also recently disclosed a dividend, which was paid on Thursday, March 18th. Stockholders of record on Friday, March 19th were paid a $0.075 dividend. The ex-dividend date was Thursday, March 18th. RPT Realty’s payout ratio is 27.78%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in RPT Realty by 4.4% in the fourth quarter. BlackRock Inc. now owns 14,857,627 shares of the real estate investment trust’s stock worth $128,518,000 after acquiring an additional 632,858 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in RPT Realty by 15.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,887,888 shares of the real estate investment trust’s stock worth $16,330,000 after purchasing an additional 258,496 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in RPT Realty by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,274,998 shares of the real estate investment trust’s stock worth $11,029,000 after purchasing an additional 51,735 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in RPT Realty by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,031,552 shares of the real estate investment trust’s stock worth $8,922,000 after purchasing an additional 47,353 shares in the last quarter. Finally, Norges Bank acquired a new stake in RPT Realty during the fourth quarter worth approximately $6,484,000. 93.18% of the stock is owned by institutional investors and hedge funds.

About RPT Realty

RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners.

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