United Services Automobile Association grew its holdings in Ramco-Gershenson Properties Trust (NYSE:RPT) by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 907,457 shares of the real estate investment trust’s stock after buying an additional 62,240 shares during the period. United Services Automobile Association owned approximately 1.13% of Ramco-Gershenson Properties Trust worth $12,341,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of RPT. Assetmark Inc. bought a new stake in shares of Ramco-Gershenson Properties Trust in the 2nd quarter worth about $131,000. Laurion Capital Management LP bought a new stake in shares of Ramco-Gershenson Properties Trust in the 2nd quarter worth about $172,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Ramco-Gershenson Properties Trust in the 2nd quarter worth about $224,000. Paloma Partners Management Co bought a new stake in shares of Ramco-Gershenson Properties Trust in the 2nd quarter worth about $267,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ramco-Gershenson Properties Trust by 151.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,396 shares of the real estate investment trust’s stock worth $283,000 after acquiring an additional 12,900 shares during the last quarter.
RPT has been the subject of several analyst reports. KeyCorp set a $15.00 target price on shares of Ramco-Gershenson Properties Trust and gave the stock a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating and set a $14.00 target price for the company in a report on Saturday, August 11th. Finally, ValuEngine upgraded shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Ramco-Gershenson Properties Trust presently has a consensus rating of “Hold” and a consensus target price of $13.17.
Ramco-Gershenson Properties Trust stock opened at $14.31 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of 10.64, a PEG ratio of 2.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.57 and a quick ratio of 0.57. Ramco-Gershenson Properties Trust has a 12-month low of $11.15 and a 12-month high of $15.00.
Ramco-Gershenson Properties Trust (NYSE:RPT) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. Ramco-Gershenson Properties Trust had a net margin of 16.33% and a return on equity of 5.47%. The company had revenue of $64.22 million during the quarter, compared to analyst estimates of $62.37 million. During the same quarter last year, the business posted $0.34 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts forecast that Ramco-Gershenson Properties Trust will post 1.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Thursday, December 20th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.88 dividend on an annualized basis and a yield of 6.15%. Ramco-Gershenson Properties Trust’s payout ratio is 64.71%.
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About Ramco-Gershenson Properties Trust
RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's locally-curated consumer experiences reflect the lifestyles of its diverse neighborhoods and match the modern expectations of its retail partners. The Company is a fully integrated and self-administered REIT publicly traded on the New York Stock Exchange under the ticker symbol RPT.
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