Ramco-Gershenson Properties Trust (RPT) Releases Earnings Results, Meets Expectations
Ramco-Gershenson Properties Trust (NYSE:RPT) announced its quarterly earnings results on Tuesday. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34, Bloomberg Earnings reports. Ramco-Gershenson Properties Trust had a net margin of 20.75% and a return on equity of 6.96%. The firm had revenue of $64.93 million for the quarter, compared to the consensus estimate of $66.07 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis.
A number of brokerages recently weighed in on RPT. ValuEngine raised shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Friday, July 28th. Jefferies Group LLC downgraded shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating and lowered their target price for the company from $16.00 to $13.00 in a research note on Friday, September 15th. Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 target price on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, August 24th. Finally, BidaskClub raised shares of Ramco-Gershenson Properties Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $15.07.
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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