Analysts Expect Ramco-Gershenson Properties Trust (RPT) to Post $0.34 Earnings Per Share
Equities analysts forecast that Ramco-Gershenson Properties Trust (NYSE:RPT) will post $0.34 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. 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 reported earnings per share of $0.15 during the same quarter last year, which would indicate a positive year over year growth rate of 126.7%. The company is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Ramco-Gershenson Properties Trust will report full-year earnings of $1.37 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.38. For the next fiscal year, analysts forecast that the company will post earnings of $1.39 per share, with EPS estimates ranging from $1.33 to $1.48. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Ramco-Gershenson Properties Trust.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.05 million. Ramco-Gershenson Properties Trust had a return on equity of 4.99% and a net margin of 15.05%. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.35 earnings per share.
Several analysts recently commented on RPT shares. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Boenning Scattergood set a $13.00 price target on Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research note on Thursday, August 3rd. BidaskClub raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, June 12th. Finally, ValuEngine downgraded Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.57.
A number of institutional investors and hedge funds have recently modified their holdings of RPT. BlackRock Inc. boosted its position in shares of Ramco-Gershenson Properties Trust by 7,078.4% during the 1st quarter. BlackRock Inc. now owns 10,374,857 shares of the real estate investment trust’s stock worth $145,455,000 after purchasing an additional 10,230,328 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Ramco-Gershenson Properties Trust by 15,951.1% in the 2nd quarter. Principal Financial Group Inc. now owns 2,953,395 shares of the real estate investment trust’s stock worth $38,100,000 after acquiring an additional 2,934,995 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Ramco-Gershenson Properties Trust by 63.3% in the 1st 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 last quarter. Sorin Capital Management LLC acquired a new stake in shares of Ramco-Gershenson Properties Trust in the 2nd quarter worth about $17,036,000. Finally, Prudential Financial Inc. raised its holdings in shares of Ramco-Gershenson Properties Trust by 1,638.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,390,766 shares of the real estate investment trust’s stock worth $17,941,000 after acquiring an additional 1,310,786 shares during the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ramco-Gershenson Properties Trust (NYSE RPT) opened at 13.58 on Friday. Ramco-Gershenson Properties Trust has a 12 month low of $11.86 and a 12 month high of $19.16. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 33.12 and a beta of 0.73. The stock’s 50 day moving average price is $13.57 and its 200-day moving average price is $13.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Wednesday, September 20th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 19th. This represents a $0.88 annualized dividend and a dividend yield of 6.48%. Ramco-Gershenson Properties Trust’s dividend payout ratio is 214.64%.
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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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