Ramco-Gershenson Properties Trust (RPT) Stock Rating Reaffirmed by KeyCorp
KeyCorp reaffirmed their buy rating on shares of Ramco-Gershenson Properties Trust (NYSE:RPT) in a research report released on Wednesday. KeyCorp currently has a $16.00 price target on the real estate investment trust’s stock.
Several other equities analysts also recently commented on the stock. Jefferies Group LLC downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a hold rating and decreased their price target for the company from $16.00 to $13.00 in a research note on Friday, September 15th. ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a hold rating in a research note on Friday, September 1st. Robert W. Baird restated a hold rating and issued a $13.00 price target on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, August 24th. Boenning Scattergood set a $13.00 price target on shares of Ramco-Gershenson Properties Trust and gave the company a sell rating in a research note 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 research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $15.14.
Ramco-Gershenson Properties Trust (NYSE RPT) opened at 13.17 on Wednesday. Ramco-Gershenson Properties Trust has a 12-month low of $11.86 and a 12-month high of $17.89. The company has a market capitalization of $1.05 billion, a P/E ratio of 32.12 and a beta of 0.74. The stock’s 50 day moving average is $13.23 and its 200-day moving average is $13.35.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $67.05 million. During the same period in the previous year, the company earned $0.35 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that Ramco-Gershenson Properties Trust will post $0.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Wednesday, September 20th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $0.88 annualized dividend and a dividend yield of 6.68%. Ramco-Gershenson Properties Trust’s dividend payout ratio (DPR) is presently 214.64%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its position in Ramco-Gershenson Properties Trust by 1,638.9% during the second quarter. Prudential Financial Inc. now owns 1,390,766 shares of the real estate investment trust’s stock worth $17,941,000 after purchasing an additional 1,310,786 shares during the period. Davis Selected Advisers lifted its position in Ramco-Gershenson Properties Trust by 18.1% during the second quarter. Davis Selected Advisers now owns 207,051 shares of the real estate investment trust’s stock worth $2,671,000 after purchasing an additional 31,691 shares during the period. Legal & General Group Plc lifted its position in Ramco-Gershenson Properties Trust by 73.3% during the second quarter. Legal & General Group Plc now owns 326,457 shares of the real estate investment trust’s stock worth $4,213,000 after purchasing an additional 138,097 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth about $1,465,000. Finally, AXA bought a new stake in Ramco-Gershenson Properties Trust during the first quarter worth about $555,000. 98.69% of the stock is owned by institutional investors and hedge funds.
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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