Ramco-Gershenson Properties Trust (RPT) Shares Gap Up to $19.33
Ramco-Gershenson Properties Trust (NYSE:RPT) gapped up prior to trading on Thursday . The stock had previously closed at $19.32, but opened at $19.33. Ramco-Gershenson Properties Trust shares last traded at $19.63, with a volume of 298,841 shares trading hands.
A number of equities research analysts recently commented on the stock. Deutsche Bank AG reissued a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research note on Sunday, May 22nd. Boenning Scattergood cut shares of Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, June 28th. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Wunderlich increased their price objective on shares of Ramco-Gershenson Properties Trust from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Finally, Jefferies Group started coverage on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, June 30th. They issued a “buy” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Ramco-Gershenson Properties Trust presently has an average rating of “Hold” and a consensus price target of $20.36.
The firm has a 50-day moving average of $19.59 and a 200 day moving average of $18.27. The company has a market cap of $1.56 billion and a price-to-earnings ratio of 19.36.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $65.90 million for the quarter, compared to the consensus estimate of $65.76 million. The business’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts anticipate that Ramco-Gershenson Properties Trust will post $1.36 earnings per share for the current year.
An institutional investor recently bought a new position in Ramco-Gershenson Properties Trust stock. Employees Retirement System of Texas purchased a new position in Ramco-Gershenson Properties Trust (NYSE:RPT) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 135,000 shares of the real estate investment trust’s stock, valued at approximately $2,242,000. Employees Retirement System of Texas owned approximately 0.17% of Ramco-Gershenson Properties Trust at the end of the most recent reporting period.
Ramco-Gershenson Properties Trust is an integrated real estate investment trust. The Company’s primary business is the ownership and management of multi-anchored shopping centers primarily in approximately 10 metropolitan markets in the United States. The Company’s property portfolio includes approximately 70 shopping centers and an office building comprising approximately 15.3 million square feet.
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