State Board of Administration of Florida Retirement System Reduces Stake in Ramco-Gershenson Properties Trust (RPT)
State Board of Administration of Florida Retirement System reduced its position in Ramco-Gershenson Properties Trust (NYSE:RPT) by 53.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 54,764 shares of the real estate investment trust’s stock after selling 61,935 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Ramco-Gershenson Properties Trust were worth $768,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in RPT. Macquarie Group Ltd. boosted its stake in shares of Ramco-Gershenson Properties Trust by 11.5% in the fourth quarter. Macquarie Group Ltd. now owns 3,708,689 shares of the real estate investment trust’s stock worth $61,490,000 after buying an additional 382,052 shares in the last quarter. State Street Corp boosted its stake in shares of Ramco-Gershenson Properties Trust by 1.4% in the fourth quarter. State Street Corp now owns 2,509,621 shares of the real estate investment trust’s stock worth $41,608,000 after buying an additional 34,184 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Ramco-Gershenson Properties Trust during the fourth quarter worth $14,818,000. Norges Bank bought a new stake in shares of Ramco-Gershenson Properties Trust during the fourth quarter worth $14,119,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Ramco-Gershenson Properties Trust by 0.9% in the fourth quarter. Renaissance Technologies LLC now owns 756,276 shares of the real estate investment trust’s stock worth $12,539,000 after buying an additional 7,076 shares in the last quarter.
Ramco-Gershenson Properties Trust (NYSE:RPT) opened at 12.24 on Tuesday. The firm has a market cap of $971.16 million, a PE ratio of 18.27 and a beta of 0.73. Ramco-Gershenson Properties Trust has a 52-week low of $12.18 and a 52-week high of $20.24. The company’s 50 day moving average price is $12.99 and its 200 day moving average price is $14.82.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Tuesday, June 20th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.19%. The ex-dividend date is Friday, June 16th. Ramco-Gershenson Properties Trust’s payout ratio is currently 129.41%.
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RPT has been the subject of a number of analyst reports. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Ramco-Gershenson Properties Trust in a research report on Monday, June 12th. Stifel Nicolaus reduced their price target on Ramco-Gershenson Properties Trust from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Finally, ValuEngine cut Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Ramco-Gershenson Properties Trust currently has a consensus rating of “Hold” and an average target price of $19.58.
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust is an equity real estate investment trust. The Company’s primary business is the ownership, management, redevelopment, development and operation of retail shopping centers. As of December 31, 2016, it owned and managed multi-anchored shopping centers in 12 metropolitan markets in the United States.
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