Ramco-Gershenson Properties Trust to Post FY2017 Earnings of $1.37 Per Share, DA Davidson Forecasts (RPT)
Ramco-Gershenson Properties Trust (NYSE:RPT) – Research analysts at DA Davidson raised their FY2017 earnings per share estimates for shares of Ramco-Gershenson Properties Trust in a research note issued to investors on Thursday. DA Davidson analyst J. Lykins now anticipates that the real estate investment trust will post earnings per share of $1.37 for the year, up from their previous estimate of $1.36. DA Davidson also issued estimates for Ramco-Gershenson Properties Trust’s FY2018 earnings at $1.48 EPS.
Several other equities research analysts also recently issued reports on RPT. Boenning Scattergood set a $13.00 target price on Ramco-Gershenson Properties Trust and gave the stock a “sell” rating in a research report on Thursday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, June 12th. BidaskClub upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. FBR & Co reiterated an “outperform” rating and issued a $15.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. One research 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’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $16.00.
Ramco-Gershenson Properties Trust (RPT) opened at 13.99 on Monday. Ramco-Gershenson Properties Trust has a one year low of $11.86 and a one year high of $19.89. The firm has a market capitalization of $1.11 billion, a PE ratio of 34.12 and a beta of 0.71. The firm has a 50-day moving average price of $13.19 and a 200 day moving average price of $14.07.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ 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 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 in the previous year, the firm earned $0.35 EPS.
Several large investors have recently modified their holdings of RPT. Teachers Advisors LLC increased its stake in shares of 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 worth $9,911,000 after buying an additional 301,400 shares during the period. Prudential Financial Inc. increased its stake in Ramco-Gershenson Properties Trust by 77.3% in the first quarter. Prudential Financial Inc. now owns 79,980 shares of the real estate investment trust’s stock worth $1,121,000 after buying an additional 34,864 shares during the last quarter. Norges Bank purchased a new stake in Ramco-Gershenson Properties Trust during the fourth quarter worth $14,119,000. AXA purchased a new stake in Ramco-Gershenson Properties Trust during the first quarter worth $555,000. Finally, Quantbot Technologies LP increased its stake in Ramco-Gershenson Properties Trust by 35.4% in the first quarter. Quantbot Technologies LP now owns 23,708 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 6,196 shares during the last quarter. Institutional investors own 96.79% of the company’s stock.
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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