Amalgamated Bank Buys Shares of 10,731 Ramco-Gershenson Properties Trust (RPT)
Amalgamated Bank bought a new position in Ramco-Gershenson Properties Trust (NYSE:RPT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,731 shares of the real estate investment trust’s stock, valued at approximately $138,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can lifted its stake in Ramco-Gershenson Properties Trust by 300.8% in the 2nd quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 6,976 shares in the last quarter. Cipher Capital LP purchased a new stake in Ramco-Gershenson Properties Trust in the 2nd quarter worth approximately $209,000. Municipal Employees Retirement System of Michigan purchased a new stake in Ramco-Gershenson Properties Trust in the 2nd quarter worth approximately $241,000. RMR Advisors LLC purchased a new stake in Ramco-Gershenson Properties Trust in the 2nd quarter worth approximately $258,000. Finally, Karp Capital Management Corp purchased a new stake in Ramco-Gershenson Properties Trust in the 1st quarter worth approximately $272,000. Institutional investors and hedge funds own 98.39% of the company’s stock.
RPT has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. ValuEngine cut shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC restated a “hold” rating and set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Monday. KeyCorp restated a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, October 4th. Finally, Boenning Scattergood set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. Ramco-Gershenson Properties Trust presently has an average rating of “Hold” and a consensus price target of $15.14.
Shares of Ramco-Gershenson Properties Trust (RPT) opened at 13.49 on Wednesday. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $17.89. The stock’s 50 day moving average is $13.24 and its 200 day moving average is $13.33. The stock has a market cap of $1.07 billion, a PE ratio of 32.90 and a beta of 0.74.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. The firm had revenue of $67.10 million for the quarter, compared to the consensus estimate of $67.05 million. During the same quarter in the previous year, the firm earned $0.35 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Ramco-Gershenson Properties Trust will post $0.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Tuesday, September 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio (DPR) is presently 214.64%.
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Ramco-Gershenson Properties Trust 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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