Ramco-Gershenson Properties Trust (RPT) Sees Strong Trading Volume
Ramco-Gershenson Properties Trust (NYSE:RPT) saw strong trading volume on Friday . 510,642 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 452,055 shares.The stock last traded at $19.58 and had previously closed at $19.67.
Several research analysts have recently weighed in on the company. Jefferies Group restated a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research note on Monday. Wunderlich boosted their price target on Ramco-Gershenson Properties Trust from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Robert W. Baird cut Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 price target for the company. in a research note on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Boenning Scattergood cut Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a research note on Tuesday, June 28th. One investment 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’s stock. Ramco-Gershenson Properties Trust currently has a consensus rating of “Hold” and a consensus target price of $20.36.
The stock’s 50 day moving average is $19.59 and its 200-day moving average is $18.27. The company has a market capitalization of $1.55 billion and a price-to-earnings ratio of 19.19.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue was up 10.4% on a year-over-year basis. On average, equities research analysts expect that Ramco-Gershenson Properties Trust will post $1.37 EPS for the current fiscal year.
An institutional investor recently bought a new position in Ramco-Gershenson Properties Trust stock. Employees Retirement System of Texas bought a new stake in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 135,000 shares of the real estate investment trust’s stock, valued at approximately $2,242,000. Employees Retirement System of Texas owned about 0.17% of Ramco-Gershenson Properties Trust as of its most recent SEC filing.
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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