Ramco-Gershenson Properties Trust (RPT) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.35 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.33. The company posted revenue of $65.90 million in the period, compared to analysts expectations of $65.76 million. The company’s revenue was up 10.4% compared to the same quarter last year.
Many Wall Street Analysts have commented on Ramco-Gershenson Properties Trust. Robert W. Baird Downgraded Ramco-Gershenson Properties Trust on Jul 19, 2016 to ” Neutral”, Price Target of the shares are set at $20.Ramco-Gershenson Properties Trust was Initiated by Jefferies to “Buy” on Jun 30, 2016. Company shares were Reiterated by Wunderlich on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $19 .
Ramco-Gershenson Properties Trust opened for trading at $19.67 and hit $19.96 on the upside on Friday, eventually ending the session at $19.84, with a gain of 0.86% or 0.17 points. The heightened volatility saw the trading volume jump to 11,54,455 shares. Company has a market cap of $1,572 M.
Ramco-Gershenson Properties Trust is an integrated self-administered equity real estate investment trust (REIT) organized in Maryland. The Company is engaged in owning developing redeveloping acquiring managing and leasing shopping centers primarily in the United States. As of December 31 2014 its property portfolio consists of 67 wholly owned shopping centers and one office building consisting of approximately 14.2 million square feet. It owns 20% of Ramco 450 Venture LLC an entity that owns eight shopping centers comprising approximately 1.7 million square feet and 30% of Ramco/Lion Venture L.P. an entity that owns three shopping centers comprising approximately 0.8 million square feet. The Company conducts all of its business through its operating partnership Ramco-Gershenson Properties L.P. The Company invests primarily in shopping centers that include national chain store tenants and market dominant supermarket tenants.