Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust (NYSE:RPT) from a sell rating to a hold rating in a research note published on Saturday.
According to Zacks, “Ramco-Gershenson Properties Trust is engaged in the business of owning, developing, acquiring, managing and leasing community shopping centers, regional malls and single tenant retail properties, nationally. “
RPT has been the topic of a number of other research reports. ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a hold rating to a sell rating in a research note on Wednesday, May 2nd. DA Davidson set a $12.00 price target on shares of Ramco-Gershenson Properties Trust and gave the stock a hold rating in a research note on Tuesday, May 8th. Finally, Boenning Scattergood reiterated a sell rating and set a $12.00 price target on shares of Ramco-Gershenson Properties Trust in a research note on Monday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $13.17.
Shares of Ramco-Gershenson Properties Trust traded down $0.22, hitting $12.86, during midday trading on Friday, MarketBeat.com reports. The company had a trading volume of 530,803 shares, compared to its average volume of 464,561. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 2.58 and a beta of 0.61. The company has a current ratio of 0.43, a quick ratio of 0.04 and a debt-to-equity ratio of 1.33. Ramco-Gershenson Properties Trust has a 1-year low of $11.15 and a 1-year high of $15.00.
Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings results on Wednesday, August 8th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.20). Ramco-Gershenson Properties Trust had a return on equity of 7.83% and a net margin of 23.37%. The business had revenue of $69.97 million for the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. research analysts forecast that Ramco-Gershenson Properties Trust will post 1.38 earnings per share for the current fiscal year.
In other news, Director Joel M. Pashcow sold 24,319 shares of the business’s stock in a transaction on Friday, May 18th. The shares were sold at an average price of $11.37, for a total value of $276,507.03. Following the sale, the director now owns 85,978 shares in the company, valued at approximately $977,569.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel M. Pashcow sold 25,000 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $11.82, for a total transaction of $295,500.00. Following the completion of the sale, the director now owns 60,978 shares in the company, valued at approximately $720,759.96. The disclosure for this sale can be found here. Insiders have sold 74,368 shares of company stock worth $858,818 in the last quarter. Corporate insiders own 3.52% of the company’s stock.
Large investors have recently modified their holdings of the company. Assetmark Inc. bought a new position in shares of Ramco-Gershenson Properties Trust in the second quarter valued at about $131,000. SG Americas Securities LLC bought a new position in shares of Ramco-Gershenson Properties Trust in the first quarter valued at about $136,000. Brinker Capital Inc. raised its holdings in shares of Ramco-Gershenson Properties Trust by 47.9% in the first quarter. Brinker Capital Inc. now owns 15,055 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 4,876 shares during the last quarter. Xact Kapitalforvaltning AB bought a new position in shares of Ramco-Gershenson Properties Trust in the fourth quarter valued at about $209,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ramco-Gershenson Properties Trust in the second quarter valued at about $224,000.
Ramco-Gershenson Properties Trust Company 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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