Castle Ridge Investment Management LP purchased a new position in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 355,626 shares of the real estate investment trust’s stock, valued at approximately $4,588,000. Ramco-Gershenson Properties Trust makes up approximately 1.7% of Castle Ridge Investment Management LP’s holdings, making the stock its 22nd biggest holding. Castle Ridge Investment Management LP owned approximately 0.45% of Ramco-Gershenson Properties Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Ramco-Gershenson Properties Trust by 300.8% during the second quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock worth $120,000 after buying an additional 6,976 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth approximately $138,000. Profund Advisors LLC acquired a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth approximately $185,000. Cipher Capital LP acquired a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth approximately $209,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Ramco-Gershenson Properties Trust during the second quarter worth approximately $241,000. 98.69% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently weighed in on RPT shares. ValuEngine raised shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Jefferies Group LLC restated a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Tuesday, June 20th. BidaskClub upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. KeyCorp restated a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Friday, September 1st. Finally, Robert W. Baird restated a “hold” rating and set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, August 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $15.14.

Ramco-Gershenson Properties Trust (NYSE:RPT) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $67.05 million. Ramco-Gershenson Properties Trust had a return on equity of 4.99% and a net margin of 15.05%. Ramco-Gershenson Properties Trust’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date of this dividend is Tuesday, September 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio is presently 214.64%.

Ramco-Gershenson Properties Trust Company Profile

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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Institutional Ownership by Quarter for Ramco-Gershenson Properties Trust (NYSE:RPT)

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