Ramco-Gershenson Properties Trust (RPT) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Ramco-Gershenson Properties Trust (NYSE:RPT) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

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. “

A number of other equities research analysts have also recently issued reports on the stock. KeyCorp reiterated an overweight rating and issued a $16.00 price objective (down from $18.00) on shares of Ramco-Gershenson Properties Trust in a report on Wednesday, June 28th. BidaskClub upgraded shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a report on Wednesday, July 19th. FBR & Co reiterated an outperform rating and issued a $15.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Tuesday, July 11th. ValuEngine upgraded shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a report on Saturday, July 8th. Finally, Jefferies Group LLC reiterated a buy rating and issued a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Ramco-Gershenson Properties Trust has a consensus rating of Hold and an average price target of $15.14.

Shares of Ramco-Gershenson Properties Trust (NYSE RPT) traded up 0.75% on Wednesday, reaching $13.41. The company had a trading volume of 1,312,985 shares. The stock has a market capitalization of $1.06 billion, a PE ratio of 32.71 and a beta of 0.74. The company has a 50 day moving average price of $13.23 and a 200 day moving average price of $13.34. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $17.89.

Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, beating the 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 business had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $67.05 million. During the same period in the previous year, the company posted $0.35 EPS. Ramco-Gershenson Properties Trust’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Ramco-Gershenson Properties Trust will post $0.31 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Wednesday, September 20th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend was Tuesday, September 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio is presently 214.64%.

Large investors have recently modified their holdings of the stock. InvenTrust Properties Corp. bought a new stake in Ramco-Gershenson Properties Trust in the second quarter worth $1,055,000. Prudential Financial Inc. lifted its position in Ramco-Gershenson Properties Trust by 1,638.9% during the 2nd quarter. Prudential Financial Inc. now owns 1,390,766 shares of the real estate investment trust’s stock worth $17,941,000 after acquiring an additional 1,310,786 shares during the last quarter. Davis Selected Advisers lifted its position in Ramco-Gershenson Properties Trust by 18.1% during the 2nd quarter. Davis Selected Advisers now owns 207,051 shares of the real estate investment trust’s stock worth $2,671,000 after acquiring an additional 31,691 shares during the last quarter. Legal & General Group Plc lifted its position in Ramco-Gershenson Properties Trust by 73.3% during the 2nd quarter. Legal & General Group Plc now owns 326,457 shares of the real estate investment trust’s stock worth $4,213,000 after acquiring an additional 138,097 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ramco-Gershenson Properties Trust during the 2nd quarter worth $1,465,000. Hedge funds and other institutional investors own 98.69% of the company’s stock.

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.

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

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