Ramco-Gershenson Properties Trust (RPT) Downgraded by Jefferies Group LLC to “Hold”

Jefferies Group LLC cut shares of Ramco-Gershenson Properties Trust (NYSE:RPT) from a buy rating to a hold rating in a research note published on Friday morning, Marketbeat.com reports. They currently have $13.00 target price on the real estate investment trust’s stock, down from their prior target price of $16.00. Jefferies Group also issued estimates for Ramco-Gershenson Properties Trust’s FY2019 earnings at $1.36 EPS.

Several other research firms have also weighed in on RPT. Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust from a sell rating to a hold rating in a report on Friday, July 28th. Boenning Scattergood set a $13.00 target price on shares of Ramco-Gershenson Properties Trust and gave the stock a sell rating in a report on Thursday, August 3rd. BidaskClub upgraded shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a report on Wednesday, July 19th. Raymond James Financial, Inc. reiterated a market perform rating on shares of Ramco-Gershenson Properties Trust in a report on Monday, June 12th. Finally, ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a buy rating to a hold rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $15.14.

Ramco-Gershenson Properties Trust (NYSE RPT) opened at 13.33 on Friday. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $19.05. The stock has a market capitalization of $1.06 billion, a PE ratio of 32.51 and a beta of 0.73. The firm’s 50-day moving average is $13.51 and its 200 day moving average is $13.46.

Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.05 million. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. On average, equities analysts forecast that Ramco-Gershenson Properties Trust will post $0.25 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Tuesday, September 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio is 214.64%.

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth $116,000. Bank of Montreal Can increased its position in shares of Ramco-Gershenson Properties Trust by 300.8% during the second quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock worth $120,000 after acquiring an additional 6,976 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth $138,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Ramco-Gershenson Properties Trust by 0.8% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 12,953 shares of the real estate investment trust’s stock worth $182,000 after acquiring an additional 100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth $179,000. 98.69% of the stock is owned by 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.

Analyst Recommendations for Ramco-Gershenson Properties Trust (NYSE:RPT)

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