Ramco-Gershenson Properties Trust (RPT) Shares Bought by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lifted its holdings in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) by 59.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,770 shares of the real estate investment trust’s stock after acquiring an additional 11,080 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Ramco-Gershenson Properties Trust were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Ramco-Gershenson Properties Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 12,918,922 shares of the real estate investment trust’s stock worth $166,655,000 after buying an additional 461,163 shares during the period. BlackRock Inc. grew its stake in shares of Ramco-Gershenson Properties Trust by 8.2% in the second quarter. BlackRock Inc. now owns 11,230,214 shares of the real estate investment trust’s stock worth $144,866,000 after purchasing an additional 855,357 shares during the last quarter. Macquarie Group Ltd. grew its stake in shares of Ramco-Gershenson Properties Trust by 26.5% in the second quarter. Macquarie Group Ltd. now owns 5,388,665 shares of the real estate investment trust’s stock worth $69,513,000 after purchasing an additional 1,128,505 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Ramco-Gershenson Properties Trust by 12.8% in the third quarter. Principal Financial Group Inc. now owns 3,332,208 shares of the real estate investment trust’s stock worth $43,353,000 after purchasing an additional 378,813 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Ramco-Gershenson Properties Trust by 18.3% in the second quarter. State Street Corp now owns 3,086,615 shares of the real estate investment trust’s stock worth $39,820,000 after purchasing an additional 476,883 shares during the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on RPT. Jefferies Group cut Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and cut their price objective for the company from $16.00 to $13.00 in a research report on Friday, September 15th. DA Davidson cut Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating and set a $14.00 price objective on the stock. in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, November 1st. ValuEngine raised Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Thursday, October 5th. Finally, KeyCorp reissued a “buy” rating and issued a $16.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.94.

Ramco-Gershenson Properties Trust (RPT) traded up $0.18 during trading hours on Friday, hitting $14.49. The stock had a trading volume of 438,762 shares, compared to its average volume of 425,630. The stock has a market cap of $1,137.31, a price-to-earnings ratio of 10.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $17.42.

Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share for the quarter, hitting the 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 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 quarter in the prior year, the firm posted $0.34 EPS. equities research analysts expect that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 20th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Tuesday, December 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio (DPR) is presently 149.15%.

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Ramco-Gershenson Properties Trust 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.

Institutional Ownership by Quarter for Ramco-Gershenson Properties Trust (NYSE:RPT)

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