MetLife Investment Advisors LLC bought a new stake in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 37,976 shares of the real estate investment trust’s stock, valued at approximately $559,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Macquarie Group Ltd. boosted its position in Ramco-Gershenson Properties Trust by 5.9% during the 4th quarter. Macquarie Group Ltd. now owns 6,170,687 shares of the real estate investment trust’s stock valued at $90,590,000 after acquiring an additional 344,699 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Ramco-Gershenson Properties Trust during the 4th quarter valued at $224,000. Millennium Management LLC purchased a new stake in shares of Ramco-Gershenson Properties Trust during the 4th quarter valued at $824,000. Raymond James & Associates lifted its holdings in shares of Ramco-Gershenson Properties Trust by 32.3% during the 4th quarter. Raymond James & Associates now owns 182,179 shares of the real estate investment trust’s stock valued at $2,683,000 after purchasing an additional 44,522 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Ramco-Gershenson Properties Trust by 72.2% during the 4th quarter. Two Sigma Advisers LP now owns 146,168 shares of the real estate investment trust’s stock valued at $2,153,000 after purchasing an additional 61,300 shares during the last quarter.
Several analysts have recently commented on RPT shares. B. Riley reiterated a “buy” rating and set a $14.00 price objective (down previously from $15.50) on shares of Ramco-Gershenson Properties Trust in a report on Thursday, February 22nd. ValuEngine lowered Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Jefferies Group set a $12.00 price objective on Ramco-Gershenson Properties Trust and gave the company a “hold” rating in a report on Thursday, April 12th. Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Finally, Boenning Scattergood reiterated a “sell” rating on shares of Ramco-Gershenson Properties Trust in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.86.
Shares of RPT stock opened at $11.83 on Friday. The firm has a market capitalization of $967.59, a P/E ratio of 8.70, a PEG ratio of 2.25 and a beta of 0.57. Ramco-Gershenson Properties Trust has a 1 year low of $11.36 and a 1 year high of $15.00.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.09). The firm had revenue of $64.26 million during the quarter, compared to analysts’ expectations of $65.81 million. Ramco-Gershenson Properties Trust had a return on equity of 8.75% and a net margin of 26.05%. analysts forecast that Ramco-Gershenson Properties Trust will post 1.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Tuesday, March 20th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 19th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.44%. Ramco-Gershenson Properties Trust’s payout ratio is currently 64.71%.
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About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust (NYSE:RPT) is a premier, national publicly-traded shopping center real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company's primary business is the ownership and management of regional dominant and urban-oriented, infill shopping centers in key growth markets in the 40 largest metropolitan markets in the United States.
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