Ramco-Gershenson Properties Trust (RPT) Shares Gap Up to $19.33
Ramco-Gershenson Properties Trust (NYSE:RPT) shares gapped up before the market opened 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 changing hands.
A number of research analysts have recently commented on RPT shares. Zacks Investment Research lowered Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Robert W. Baird lowered Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 price objective on the stock. in a report on Tuesday, July 19th. They noted that the move was a valuation call. Jefferies Group began coverage on Ramco-Gershenson Properties Trust in a report on Thursday, June 30th. They set a “buy” rating and a $22.00 price objective on the stock. Boenning Scattergood downgraded Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research note on Tuesday, June 28th. Finally, Wunderlich increased their target price on Ramco-Gershenson Properties Trust from $20.00 to $21.50 and gave the company a “buy” rating in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.36.
The company has a 50 day moving average price of $19.59 and a 200 day moving average price of $18.29. The stock has a market capitalization of $1.55 billion and a P/E ratio of 19.19.
Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm earned $65.90 million during the quarter, compared to the consensus estimate of $65.76 million. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts expect that Ramco-Gershenson Properties Trust will post $1.37 earnings per share for the current fiscal 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 shares of Ramco-Gershenson Properties Trust (NYSE:RPT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 135,000 shares of the real estate investment trust’s stock, valued at approximately $2,242,000. Employees Retirement System of Texas owned 0.17% of Ramco-Gershenson Properties Trust as of its most recent filing with the SEC.
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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