New York State Common Retirement Fund reduced its stake in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) by 70.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,300 shares of the real estate investment trust’s stock after selling 197,211 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Ramco-Gershenson Properties Trust worth $1,062,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of RPT. Bank of Montreal Can increased its stake in 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 acquiring an additional 6,976 shares during the last quarter. Amalgamated Bank bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth approximately $138,000. Profund Advisors LLC bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth approximately $185,000. Cipher Capital LP bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth approximately $209,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Ramco-Gershenson Properties Trust during the second quarter worth approximately $241,000. 98.69% of the stock is currently owned by institutional investors.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. The business had revenue of $64.93 million during the quarter, compared to the consensus estimate of $66.07 million. Ramco-Gershenson Properties Trust had a net margin of 20.75% and a return on equity of 6.96%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS.
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Several equities research analysts have weighed in on the company. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Boenning Scattergood set a $13.00 price objective on Ramco-Gershenson Properties Trust and gave the stock a “sell” rating in a research note on Thursday, August 3rd. Jefferies Group LLC lowered Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and dropped their target price for the company from $16.00 to $13.00 in a research report on Friday, September 15th. BidaskClub upgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, KeyCorp restated a “buy” rating and set a $16.00 target price on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $14.94.
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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