Ramco-Gershenson Properties Trust (RPT) Releases Quarterly Earnings Results, Hits Expectations
Ramco-Gershenson Properties Trust (NYSE:RPT) released its quarterly earnings data on Tuesday. The real estate investment trust reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34, Bloomberg Earnings reports. The company had revenue of $64.93 million during the quarter, compared to analyst estimates of $66.07 million. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS.
Ramco-Gershenson Properties Trust (NYSE:RPT) traded down 0.32% during mid-day trading on Tuesday, reaching $12.63. 719,406 shares of the company traded hands. Ramco-Gershenson Properties Trust has a 12-month low of $11.86 and a 12-month high of $17.56. The company’s 50-day moving average is $13.18 and its 200-day moving average is $13.26. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 30.80 and a beta of 0.74.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Wednesday, September 20th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 6.97%. The ex-dividend date of this dividend was Tuesday, September 19th. Ramco-Gershenson Properties Trust’s payout ratio is currently 214.64%.
Several research firms recently issued reports on RPT. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Monday, October 16th. KeyCorp reissued a “buy” rating and issued a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, October 4th. Finally, Boenning Scattergood set a $13.00 price target on shares of Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Ramco-Gershenson Properties Trust has a consensus rating of “Hold” and a consensus target price of $15.14.
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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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