Ramco-Gershenson Properties Trust (RPT) Sees Strong Trading Volume
Ramco-Gershenson Properties Trust (NYSE:RPT) shares 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 equities research analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Ramco-Gershenson Properties Trust in a report on Monday, August 22nd. Wunderlich upped their price target on shares of Ramco-Gershenson Properties Trust from $20.00 to $21.50 and gave the company a “buy” rating in a report on Friday, August 5th. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Friday, August 5th. Robert W. Baird downgraded shares of Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 price target for the company. in a report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Boenning Scattergood downgraded shares of Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 price target for the company. in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $20.36.
The stock has a 50 day moving average of $19.59 and a 200-day moving average of $18.29. The company has a market cap of $1.55 billion and a PE ratio of 19.19.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $65.90 million for the quarter, compared to analyst estimates of $65.76 million. The company’s quarterly revenue 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 year.
A hedge fund recently bought a new stake in Ramco-Gershenson Properties Trust stock. Employees Retirement System of Texas acquired a new stake in Ramco-Gershenson Properties Trust (NYSE:RPT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 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 quarter.
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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