JPMorgan Chase & Co. Has $10.18 Million Stake in Ramco-Gershenson Properties Trust (RPT)
JPMorgan Chase & Co. increased its position in Ramco-Gershenson Properties Trust (NYSE:RPT) by 8.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 777,486 shares of the real estate investment trust’s stock after buying an additional 61,570 shares during the period. JPMorgan Chase & Co. owned about 0.98% of Ramco-Gershenson Properties Trust worth $10,177,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of RPT. Tower Research Capital LLC TRC purchased a new stake in Ramco-Gershenson Properties Trust in the second quarter valued at approximately $116,000. Bank of Montreal Can grew its holdings in Ramco-Gershenson Properties Trust by 300.8% in the second quarter. Bank of Montreal Can now owns 9,295 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 6,976 shares during the period. Amalgamated Bank purchased a new stake in Ramco-Gershenson Properties Trust in the second quarter valued at approximately $138,000. Dynamic Technology Lab Private Ltd purchased a new stake in Ramco-Gershenson Properties Trust in the second quarter valued at approximately $179,000. Finally, Profund Advisors LLC purchased a new stake in Ramco-Gershenson Properties Trust in the second quarter valued at approximately $185,000. 98.23% of the stock is owned by institutional investors and hedge funds.
Shares of Ramco-Gershenson Properties Trust (NYSE RPT) opened at $14.35 on Friday. Ramco-Gershenson Properties Trust has a 52 week low of $11.86 and a 52 week high of $17.11. The stock has a market cap of $1,129.38, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.81.
Ramco-Gershenson Properties Trust (NYSE:RPT) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Ramco-Gershenson Properties Trust had a net margin of 20.75% and a return on equity of 6.96%. The company had revenue of $64.93 million during the quarter, compared to the consensus estimate of $66.07 million. During the same period in the previous year, the firm earned $0.34 earnings per share. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.3% on a year-over-year basis. analysts expect that Ramco-Gershenson Properties Trust will post 1.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Wednesday, December 20th will be paid a dividend of $0.22 per share. The ex-dividend date is Tuesday, December 19th. This represents a $0.88 annualized dividend and a yield of 6.13%. Ramco-Gershenson Properties Trust’s dividend payout ratio is currently 149.15%.
RPT has been the subject of a number of recent analyst reports. Jefferies Group restated a “hold” rating and issued a $13.00 target price on shares of Ramco-Gershenson Properties Trust in a report on Monday, October 16th. ValuEngine downgraded shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research downgraded shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a report on Wednesday, October 11th. KeyCorp restated a “buy” rating and issued a $16.00 target price on shares of Ramco-Gershenson Properties Trust in a report on Wednesday, October 4th. Finally, BTIG Research downgraded shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $15.13.
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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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