Ramco-Gershenson Properties Trust (RPT) Downgraded by DA Davidson to Neutral

DA Davidson lowered shares of Ramco-Gershenson Properties Trust (NYSE:RPT) from a buy rating to a neutral rating in a report released on Thursday. The brokerage currently has $14.00 price target on the real estate investment trust’s stock.

RPT has been the subject of a number of other reports. BidaskClub raised shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a research note on Wednesday, July 19th. Robert W. Baird reaffirmed a hold rating and issued a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, August 24th. FBR & Co reissued an outperform rating and set a $15.00 price target on shares of Ramco-Gershenson Properties Trust in a research report on Tuesday, July 11th. Zacks Investment Research lowered shares of Ramco-Gershenson Properties Trust from a hold rating to a sell rating in a research report on Thursday, July 20th. Finally, ValuEngine raised shares of Ramco-Gershenson Properties Trust from a hold rating to a buy rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $14.94.

Shares of Ramco-Gershenson Properties Trust (RPT) opened at $13.08 on Thursday. Ramco-Gershenson Properties Trust has a one year low of $11.86 and a one year high of $17.56. The firm has a market cap of $1,038.11, a PE ratio of 9.55, a P/E/G ratio of 2.33 and a beta of 0.76.

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 for the quarter, hitting the Zacks’ 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 analyst estimates of $66.07 million. During the same period in the prior year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. analysts predict that Ramco-Gershenson Properties Trust will post 1.36 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. InvenTrust Properties Corp. purchased a new position in shares of Ramco-Gershenson Properties Trust in the 2nd quarter valued at approximately $1,055,000. Prudential Financial Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 1,638.9% in the 2nd quarter. Prudential Financial Inc. now owns 1,390,766 shares of the real estate investment trust’s stock valued at $17,941,000 after purchasing an additional 1,310,786 shares during the last quarter. Legal & General Group Plc raised its position in shares of Ramco-Gershenson Properties Trust by 73.3% in the 2nd quarter. Legal & General Group Plc now owns 326,457 shares of the real estate investment trust’s stock valued at $4,213,000 after purchasing an additional 138,097 shares during the last quarter. Davis Selected Advisers raised its position in shares of Ramco-Gershenson Properties Trust by 18.1% in the 2nd quarter. Davis Selected Advisers now owns 207,051 shares of the real estate investment trust’s stock valued at $2,671,000 after purchasing an additional 31,691 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 8.2% in the 2nd quarter. BlackRock Inc. now owns 11,230,214 shares of the real estate investment trust’s stock valued at $144,866,000 after purchasing an additional 855,357 shares during the last quarter. 98.53% of the stock is owned by hedge funds and other institutional investors.

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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