Ramco-Gershenson Properties Trust (RPT) Declares Quarterly Dividend of $0.22
Ramco-Gershenson Properties Trust (NYSE:RPT) announced a quarterly dividend on Friday, September 1st, Wall Street Journal reports. Investors of record on Wednesday, September 20th will be paid a dividend of 0.22 per share by the real estate investment trust on Monday, October 2nd. This represents a $0.88 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, September 19th.
Ramco-Gershenson Properties Trust has increased its dividend payment by an average of 7.1% per year over the last three years and has raised its dividend every year for the last 4 years. Ramco-Gershenson Properties Trust has a dividend payout ratio of 64.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ramco-Gershenson Properties Trust to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 63.3%.
Shares of Ramco-Gershenson Properties Trust (NYSE:RPT) opened at 13.30 on Friday. The stock has a market cap of $1.06 billion, a P/E ratio of 32.44 and a beta of 0.73. The company has a 50 day moving average of $13.57 and a 200 day moving average of $13.66. Ramco-Gershenson Properties Trust has a 12 month low of $11.86 and a 12 month high of $19.55.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $67.10 million during the quarter, compared to analysts’ expectations of $67.05 million. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Equities research analysts expect that Ramco-Gershenson Properties Trust will post $0.25 earnings per share for the current fiscal year.
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A number of research analysts recently issued reports on the stock. ValuEngine cut shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Friday. KeyCorp restated a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Friday. Robert W. Baird restated a “hold” rating and set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Thursday, August 24th. Boenning Scattergood set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.57.
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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