Ramco-Gershenson Properties Trust (NYSE:RPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday, July 20th.
According to Zacks, “Ramco-Gershenson Properties Trust is engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers, regional malls and single tenant retail properties, nationally. “
Several other research firms have also recently commented on RPT. BidaskClub raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a report on Monday, June 12th. KeyCorp reissued an “overweight” rating and issued a $16.00 price target (down from $18.00) on shares of Ramco-Gershenson Properties Trust in a report on Wednesday, June 28th. ValuEngine cut Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co reaffirmed an “outperform” rating and set a $15.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Ramco-Gershenson Properties Trust has a consensus rating of “Buy” and an average target price of $16.00.
Ramco-Gershenson Properties Trust (NYSE RPT) traded down 0.820% during mid-day trading on Thursday, hitting $13.915. The stock had a trading volume of 366,289 shares. The firm has a market cap of $1.10 billion, a P/E ratio of 33.939 and a beta of 0.71. The stock has a 50-day moving average price of $13.19 and a 200 day moving average price of $14.08. Ramco-Gershenson Properties Trust has a 12-month low of $11.86 and a 12-month high of $19.89.
Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $67.10 million during the quarter, compared to analysts’ expectations of $67.05 million. Ramco-Gershenson Properties Trust had a return on equity of 4.99% and a net margin of 15.05%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Equities analysts anticipate that Ramco-Gershenson Properties Trust will post $0.25 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Ramco-Gershenson Properties Trust during the fourth quarter valued at about $1,154,000. Norges Bank bought a new position in Ramco-Gershenson Properties Trust during the fourth quarter valued at $14,119,000. Teachers Advisors LLC increased its position in Ramco-Gershenson Properties Trust by 101.7% in the fourth quarter. Teachers Advisors LLC now owns 597,756 shares of the real estate investment trust’s stock valued at $9,911,000 after buying an additional 301,400 shares during the last quarter. Macquarie Group Ltd. increased its position in Ramco-Gershenson Properties Trust by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 3,708,689 shares of the real estate investment trust’s stock valued at $61,490,000 after buying an additional 382,052 shares during the last quarter. Finally, Pensionfund Sabic increased its position in Ramco-Gershenson Properties Trust by 83.1% in the first quarter. Pensionfund Sabic now owns 55,100 shares of the real estate investment trust’s stock valued at $773,000 after buying an additional 25,000 shares during the last quarter. 96.79% of the stock is owned by hedge funds and other institutional investors.
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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