BlackRock Inc. lifted its position in Ramco-Gershenson Properties Trust (NYSE:RPT) by 3.0% in the first quarter, HoldingsChannel.com reports. The firm owned 14,041,521 shares of the real estate investment trust’s stock after buying an additional 412,590 shares during the period. BlackRock Inc. owned 0.18% of Ramco-Gershenson Properties Trust worth $173,553,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Ramco-Gershenson Properties Trust in the first quarter worth approximately $136,000. Xact Kapitalforvaltning AB bought a new position in Ramco-Gershenson Properties Trust in the fourth quarter worth approximately $209,000. Verition Fund Management LLC bought a new position in Ramco-Gershenson Properties Trust in the fourth quarter worth approximately $224,000. Ellington Management Group LLC bought a new position in Ramco-Gershenson Properties Trust in the fourth quarter worth approximately $225,000. Finally, AMP Capital Investors Ltd raised its stake in Ramco-Gershenson Properties Trust by 94.8% in the fourth quarter. AMP Capital Investors Ltd now owns 24,406 shares of the real estate investment trust’s stock worth $360,000 after buying an additional 11,876 shares in the last quarter.
A number of equities analysts recently commented on RPT shares. Zacks Investment Research downgraded shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Jefferies Financial Group set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Boenning Scattergood reissued a “sell” rating on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, February 22nd. Finally, B. Riley reissued a “buy” rating and issued a $14.00 price objective (down previously from $15.50) on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $13.43.
Shares of Ramco-Gershenson Properties Trust opened at $12.82 on Friday, MarketBeat Ratings reports. The firm has a market cap of $982.77 million, a PE ratio of 9.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.60. Ramco-Gershenson Properties Trust has a 12-month low of $11.15 and a 12-month high of $15.00.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.26). The business had revenue of $62.70 million for the quarter, compared to analyst estimates of $63.53 million. Ramco-Gershenson Properties Trust had a return on equity of 8.04% and a net margin of 24.33%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. equities research analysts anticipate that Ramco-Gershenson Properties Trust will post 1.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Wednesday, June 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date is Tuesday, June 19th. Ramco-Gershenson Properties Trust’s payout ratio is presently 64.71%.
In other news, Director Joel M. Pashcow sold 25,475 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $11.70, for a total transaction of $298,057.50. Following the transaction, the director now directly owns 135,029 shares of the company’s stock, valued at $1,579,839.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joel M. Pashcow sold 24,319 shares of the company’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $11.37, for a total value of $276,507.03. Following the transaction, the director now directly owns 85,978 shares in the company, valued at $977,569.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,843 shares of company stock worth $1,156,876. Insiders own 3.52% of the company’s stock.
Ramco-Gershenson Properties Trust Profile
RAMCO (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 town centers, urban infill properties and neighborhood shopping centers primarily located in 15 of the 40 largest metropolitan markets in the United States.
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