Ramco-Gershenson Properties Trust (RPT) Receives Buy Rating from KeyCorp
Ramco-Gershenson Properties Trust (NYSE:RPT)‘s stock had its “buy” rating reiterated by research analysts at KeyCorp in a report released on Wednesday. They presently have a $16.00 price target on the real estate investment trust’s stock. KeyCorp’s target price indicates a potential upside of 19.94% from the stock’s current price.
Several other research firms also recently issued reports on RPT. Raymond James Financial, Inc. restated a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, June 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a report on Tuesday, June 20th. ValuEngine upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. FBR & Co reiterated an “outperform” rating and issued a $15.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Ramco-Gershenson Properties Trust presently has an average rating of “Hold” and a consensus target price of $15.14.
Shares of Ramco-Gershenson Properties Trust (RPT) traded down 0.937% on Wednesday, hitting $13.215. The stock had a trading volume of 170,762 shares. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 32.232 and a beta of 0.74. The company has a 50-day moving average of $13.24 and a 200 day moving average of $13.36. Ramco-Gershenson Properties Trust has a 52 week low of $11.86 and a 52 week high of $18.18.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The company had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.05 million. During the same period last year, the firm earned $0.35 EPS. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Ramco-Gershenson Properties Trust will post $0.31 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ramco-Gershenson Properties Trust in the second quarter worth $179,000. InvenTrust Properties Corp. bought a new stake in Ramco-Gershenson Properties Trust during the second quarter valued at $1,055,000. Koch Industries Inc. bought a new stake in Ramco-Gershenson Properties Trust during the second quarter valued at $357,000. Piedmont Investment Advisors LLC bought a new stake in Ramco-Gershenson Properties Trust during the second quarter valued at $221,000. Finally, Westwood Holdings Group Inc. boosted its stake in Ramco-Gershenson Properties Trust by 26.4% during the second quarter. Westwood Holdings Group Inc. now owns 1,169,480 shares of the real estate investment trust’s stock valued at $15,087,000 after buying an additional 243,905 shares during the period. 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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