Legal & General Group Plc increased its position in Ramco-Gershenson Properties Trust (NYSE:RPT) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 347,981 shares of the real estate investment trust’s stock after purchasing an additional 21,524 shares during the period. Legal & General Group Plc owned 0.44% of Ramco-Gershenson Properties Trust worth $4,528,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of RPT. Tower Research Capital LLC TRC bought a new stake in Ramco-Gershenson Properties Trust in the second quarter worth $116,000. Bank of Montreal Can boosted its holdings in Ramco-Gershenson Properties Trust by 300.8% in 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 Ramco-Gershenson Properties Trust in the second quarter worth $138,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter valued at $179,000. Finally, Profund Advisors LLC bought a new position in shares of Ramco-Gershenson Properties Trust during the second quarter valued at $185,000. 98.23% of the stock is currently owned by institutional investors.
Ramco-Gershenson Properties Trust (RPT) traded up $0.04 during mid-day trading on Thursday, reaching $13.91. The company’s stock had a trading volume of 391,722 shares, compared to its average volume of 556,478. The company has a market capitalization of $1,100.00, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. Ramco-Gershenson Properties Trust has a 52 week low of $11.86 and a 52 week high of $16.60.
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, hitting analysts’ consensus estimates of $0.34. The business had revenue of $64.93 million during the quarter, compared to analysts’ expectations of $66.07 million. Ramco-Gershenson Properties Trust had a return on equity of 6.96% and a net margin of 20.75%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. equities analysts predict that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 20th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date was Tuesday, December 19th. Ramco-Gershenson Properties Trust’s payout ratio is 154.39%.
A number of brokerages have recently issued reports on RPT. ValuEngine downgraded Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Jefferies Group set a $14.00 price target on Ramco-Gershenson Properties Trust and gave the company a “hold” rating in a report on Wednesday, December 13th. Boenning Scattergood set a $13.00 price target on Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a report on Wednesday, December 13th. Raymond James Financial reaffirmed a “hold” rating on shares of Ramco-Gershenson Properties Trust in a report on Tuesday, December 12th. Finally, Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Ramco-Gershenson Properties Trust presently has a consensus rating of “Hold” and an average price target of $14.86.
In related news, CEO Dennis Earl Gershenson purchased 25,000 shares of Ramco-Gershenson Properties Trust stock in a transaction on Friday, December 14th. The stock was acquired at an average price of $14.58 per share, for a total transaction of $364,500.00. Following the completion of the transaction, the chief executive officer now directly 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 the SEC website. Corporate insiders own 1.57% of the company’s stock.
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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.
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