Ramco-Gershenson Properties Trust (RPT) Expected to Post Earnings of $0.34 Per Share
Equities analysts forecast that Ramco-Gershenson Properties Trust (NYSE:RPT) will announce $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Ramco-Gershenson Properties Trust’s earnings. The lowest EPS estimate is $0.32 and the highest is $0.35. Ramco-Gershenson Properties Trust posted earnings per share of $0.15 in the same quarter last year, which indicates a positive year-over-year growth rate of 126.7%. The company is expected to announce its next earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Ramco-Gershenson Properties Trust will report full year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.35 to $1.38. For the next fiscal year, analysts expect that the firm will report earnings of $1.39 per share, with EPS estimates ranging from $1.30 to $1.48. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for Ramco-Gershenson Properties Trust.
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 analysts’ consensus estimates 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 was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share.
A number of analysts have weighed in on the stock. BidaskClub upgraded shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Robert W. Baird restated a “hold” rating and set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, August 24th. FBR & Co restated an “outperform” rating and set a $15.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Tuesday, July 11th. Zacks Investment Research lowered shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th. Finally, KeyCorp restated an “overweight” rating and set a $16.00 price objective (down from $18.00) on shares of Ramco-Gershenson Properties Trust in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $15.14.
Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in Ramco-Gershenson Properties Trust during the 2nd quarter valued at about $116,000. Bank of Montreal Can boosted its holdings in shares of Ramco-Gershenson Properties Trust by 300.8% during the 2nd quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock valued at $120,000 after acquiring an additional 6,976 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Ramco-Gershenson Properties Trust during the 2nd quarter valued at about $138,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ramco-Gershenson Properties Trust during the 2nd quarter valued at about $179,000. Finally, Profund Advisors LLC purchased a new stake in shares of Ramco-Gershenson Properties Trust during the 2nd quarter valued at about $185,000. Institutional investors and hedge funds own 98.39% of the company’s stock.
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Shares of Ramco-Gershenson Properties Trust (RPT) traded down 1.34% on Friday, hitting $13.21. 127,448 shares of the stock were exchanged. The company has a market cap of $1.05 billion, a PE ratio of 32.22 and a beta of 0.74. The company has a 50-day moving average price of $13.27 and a 200 day moving average price of $13.33. Ramco-Gershenson Properties Trust has a 12 month low of $11.86 and a 12 month high of $17.89.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 19th. This represents a $0.88 dividend on an annualized basis and a yield of 6.57%. Ramco-Gershenson Properties Trust’s dividend payout ratio is currently 214.64%.
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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