Jefferies Group LLC Lowers Ramco-Gershenson Properties Trust (RPT) to Hold
Ramco-Gershenson Properties Trust (NYSE:RPT) was downgraded by equities researchers at Jefferies Group LLC from a “buy” rating to a “hold” rating in a report issued on Friday, MarketBeat Ratings reports. They currently have a $13.00 price objective on the real estate investment trust’s stock. Jefferies Group LLC’s target price suggests a potential downside of 3.85% from the company’s current price.
Several other analysts have also commented on the company. KeyCorp reissued an “overweight” rating and issued a $16.00 price objective (down from $18.00) on shares of Ramco-Gershenson Properties Trust in a report on Wednesday, June 28th. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, July 28th. ValuEngine raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. BidaskClub raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $15.14.
Ramco-Gershenson Properties Trust (RPT) traded down 2.52% on Friday, reaching $13.52. The company’s stock had a trading volume of 1,144,407 shares. The firm has a 50-day moving average of $13.53 and a 200 day moving average of $13.50. Ramco-Gershenson Properties Trust has a 12-month low of $11.86 and a 12-month high of $19.05. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 32.98 and a beta of 0.73.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings data 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. Ramco-Gershenson Properties Trust had a return on equity of 4.99% and a net margin of 15.05%. The company had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.05 million. During the same period last year, the company earned $0.35 earnings per share. Ramco-Gershenson Properties Trust’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Ramco-Gershenson Properties Trust will post $0.25 EPS for the current fiscal year.
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Several large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter worth approximately $179,000. InvenTrust Properties Corp. acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter worth approximately $1,055,000. Koch Industries Inc. acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter worth approximately $357,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter worth approximately $221,000. Finally, Westwood Holdings Group Inc. boosted its stake in shares of Ramco-Gershenson Properties Trust by 26.4% in the second quarter. Westwood Holdings Group Inc. now owns 1,169,480 shares of the real estate investment trust’s stock worth $15,087,000 after acquiring an additional 243,905 shares during the last quarter. 98.69% of the stock is currently 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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