Ramco-Gershenson Properties Trust to Issue Quarterly Dividend of $0.22 (RPT)

Ramco-Gershenson Properties Trust (NYSE:RPT) declared a quarterly dividend on Friday, December 1st, Wall Street Journal reports. Shareholders of record on Wednesday, December 20th will be given a dividend of 0.22 per share by the real estate investment trust on Tuesday, January 2nd. This represents a $0.88 annualized dividend and a yield of 6.11%. The ex-dividend date is Tuesday, December 19th.

Ramco-Gershenson Properties Trust has raised its dividend payment by an average of 7.1% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Ramco-Gershenson Properties Trust has a payout ratio of 64.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ramco-Gershenson Properties Trust to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 64.2%.

Ramco-Gershenson Properties Trust (RPT) traded down $0.16 during midday trading on Friday, reaching $14.41. 504,100 shares of the company’s stock traded hands, compared to its average volume of 837,333. The stock has a market capitalization of $1,140.00, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. Ramco-Gershenson Properties Trust has a 52 week low of $11.86 and a 52 week high of $17.46.

Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. 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 20.75% and a return on equity of 6.96%. Ramco-Gershenson Properties Trust’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. sell-side analysts predict that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current fiscal year.

RPT has been the subject of several recent analyst reports. KeyCorp reaffirmed a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Wednesday, October 4th. BTIG Research lowered shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating in a research note on Thursday, November 2nd. Zacks Investment Research lowered shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. ValuEngine lowered shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, B. Riley reaffirmed a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $14.94.

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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.

Dividend History for Ramco-Gershenson Properties Trust (NYSE:RPT)

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