Ramco-Gershenson Properties Trust (RPT) to Issue Quarterly Dividend of $0.22 on January 2nd

Ramco-Gershenson Properties Trust (NYSE:RPT) announced a quarterly dividend on Friday, December 1st, Wall Street Journal reports. Investors of record on Wednesday, December 20th will be paid a dividend of 0.22 per share by the real estate investment trust on Tuesday, January 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date is Tuesday, December 19th.

Ramco-Gershenson Properties Trust has increased its dividend payment by an average of 7.1% annually over the last three years and has increased 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. Equities research analysts expect Ramco-Gershenson Properties Trust to earn $1.36 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 64.7%.

Shares of Ramco-Gershenson Properties Trust (NYSE:RPT) opened at $14.72 on Monday. The company has a market capitalization of $1,168.66, a P/E ratio of 10.75, a P/E/G ratio of 2.77 and a beta of 0.81. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $17.11.

Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The company had revenue of $64.93 million during the quarter, compared to the consensus estimate of $66.07 million. Ramco-Gershenson Properties Trust had a return on equity of 6.96% and a net margin of 20.75%. Ramco-Gershenson Properties Trust’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. analysts predict that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current fiscal year.

A number of analysts recently commented on RPT shares. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Friday, September 1st. ValuEngine downgraded Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group downgraded Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and decreased their price target for the company from $16.00 to $13.00 in a research report on Friday, September 15th. Finally, Zacks Investment Research downgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.13.

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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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