Comerica Bank bought a new position in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 83,556 shares of the real estate investment trust’s stock, valued at approximately $1,141,000. Comerica Bank owned 0.11% of Ramco-Gershenson Properties Trust as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Ramco-Gershenson Properties Trust by 1.6% during the first quarter. Vanguard Group Inc. now owns 12,457,759 shares of the real estate investment trust’s stock worth $174,657,000 after acquiring an additional 201,543 shares during the period. BlackRock Inc. grew its holdings in Ramco-Gershenson Properties Trust by 7,078.4% during the first quarter. BlackRock Inc. now owns 10,374,857 shares of the real estate investment trust’s stock worth $145,455,000 after acquiring an additional 10,230,328 shares during the period. Wellington Management Group LLP grew its holdings in Ramco-Gershenson Properties Trust by 63.3% during the first quarter. Wellington Management Group LLP now owns 4,572,116 shares of the real estate investment trust’s stock worth $64,101,000 after acquiring an additional 1,773,010 shares during the period. Macquarie Group Ltd. grew its holdings in Ramco-Gershenson Properties Trust by 14.9% during the first quarter. Macquarie Group Ltd. now owns 4,260,160 shares of the real estate investment trust’s stock worth $59,728,000 after acquiring an additional 551,471 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in Ramco-Gershenson Properties Trust by 4.9% during the first quarter. Alliancebernstein L.P. now owns 2,624,526 shares of the real estate investment trust’s stock worth $36,796,000 after acquiring an additional 121,850 shares during the period. 98.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on RPT. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Boenning Scattergood set a $13.00 price target on Ramco-Gershenson Properties Trust and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Jefferies Group LLC cut Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and dropped their price target for the stock from $16.00 to $13.00 in a research note on Friday. BidaskClub raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Raymond James Financial, Inc. reissued a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. Ramco-Gershenson Properties Trust currently has a consensus rating of “Hold” and an average target price of $15.14.
Ramco-Gershenson Properties Trust (NYSE RPT) opened at 13.52 on Monday. Ramco-Gershenson Properties Trust has a 52 week low of $11.86 and a 52 week high of $19.05. The company has a 50-day moving average price of $13.53 and a 200-day moving average price of $13.50. The stock has a market cap of $1.07 billion, a PE ratio of 32.98 and a beta of 0.73.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Ramco-Gershenson Properties Trust had a return on equity of 4.99% and a net margin of 15.05%. The firm had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.05 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts anticipate that Ramco-Gershenson Properties Trust will post $0.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.51%. The ex-dividend date is Tuesday, September 19th. Ramco-Gershenson Properties Trust’s payout ratio is 214.64%.
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Ramco-Gershenson Properties Trust 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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