Ramco-Gershenson Properties Trust (NYSE:rpt) announced a quarterly dividend on Wednesday, September 7th. Shareholders of record on Tuesday, September 20th will be paid a dividend of 0.22 per share by the real estate investment trust on Saturday, October 1st. This represents a $0.88 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, September 16th. This is an increase from Ramco-Gershenson Properties Trust’s previous quarterly dividend of $0.21.
Several analysts have weighed in on the stock. Jefferies Group reiterated a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research note on Monday, August 22nd. Wunderlich lifted their price objective on shares of Ramco-Gershenson Properties Trust from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 5th. Robert W. Baird cut shares of Ramco-Gershenson Properties Trust from an “outperform” rating to a “neutral” rating and set a $20.00 target price for the company. in a research report on Tuesday, July 19th. They noted that the move was a valuation call. Finally, Boenning Scattergood cut shares of Ramco-Gershenson Properties Trust from a “neutral” rating to an “underperform” rating and set a $18.00 target price for the company. in a research report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Ramco-Gershenson Properties Trust currently has an average rating of “Hold” and a consensus price target of $20.36.
Ramco-Gershenson Properties Trust (NYSE:RPT) opened at 18.41 on Friday. Ramco-Gershenson Properties Trust has a 52-week low of $14.83 and a 52-week high of $20.24. The company’s 50-day moving average is $19.41 and its 200-day moving average is $18.46. The firm has a market capitalization of $1.46 billion, a PE ratio of 18.12 and a beta of 1.10.
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Ramco-Gershenson Properties Trust (NYSE:RPT) last posted its quarterly earnings results on Tuesday, August 2nd. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company earned $65.90 million during the quarter, compared to analyst estimates of $65.76 million. Ramco-Gershenson Properties Trust had a net margin of 33.04% and a return on equity of 10.80%. The business’s revenue was up 10.4% on a year-over-year basis. Analysts forecast that Ramco-Gershenson Properties Trust will post $1.37 EPS for the current fiscal year.
About Ramco-Gershenson Properties Trust
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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