Ramco-Gershenson Properties Trust (NYSE:RPT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Ramco-Gershenson Properties Trust is engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers, regional malls and single tenant retail properties, nationally. “
Several other analysts have also recently weighed in on RPT. DA Davidson cut shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a report on Thursday, November 2nd. B. Riley reiterated a “buy” rating on shares of Ramco-Gershenson Properties Trust in a report on Thursday, November 2nd. ValuEngine cut shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price target on shares of Ramco-Gershenson Properties Trust in a report on Wednesday, November 1st. Finally, Boenning Scattergood reiterated a “sell” rating and issued a $12.50 price target on shares of Ramco-Gershenson Properties Trust in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.86.
In other Ramco-Gershenson Properties Trust news, CEO Dennis Earl Gershenson bought 25,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were purchased at an average price of $14.58 per share, for a total transaction of $364,500.00. Following the acquisition, the chief executive officer now owns 529,454 shares in the company, valued at approximately $7,719,439.32. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.57% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP bought a new stake in shares of Ramco-Gershenson Properties Trust during the 4th quarter valued at $1,600,000. UBS Asset Management Americas Inc. boosted its stake in Ramco-Gershenson Properties Trust by 18.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 166,626 shares of the real estate investment trust’s stock worth $2,454,000 after purchasing an additional 25,455 shares in the last quarter. BlackRock Inc. boosted its stake in Ramco-Gershenson Properties Trust by 3.4% in the 4th quarter. BlackRock Inc. now owns 13,628,931 shares of the real estate investment trust’s stock worth $200,754,000 after purchasing an additional 446,460 shares in the last quarter. Rhumbline Advisers boosted its stake in Ramco-Gershenson Properties Trust by 14.0% in the 4th quarter. Rhumbline Advisers now owns 204,778 shares of the real estate investment trust’s stock worth $3,016,000 after purchasing an additional 25,146 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Ramco-Gershenson Properties Trust by 224.1% in the 4th quarter. Arizona State Retirement System now owns 133,386 shares of the real estate investment trust’s stock worth $1,965,000 after purchasing an additional 92,236 shares in the last quarter.
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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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