California State Teachers Retirement System Cuts Holdings in Ramco-Gershenson Properties Trust (RPT)

California State Teachers Retirement System lowered its holdings in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) by 9.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,489 shares of the real estate investment trust’s stock after selling 13,837 shares during the period. California State Teachers Retirement System owned about 0.16% of Ramco-Gershenson Properties Trust worth $1,633,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 3.7% in the second quarter. Vanguard Group Inc. now owns 12,918,922 shares of the real estate investment trust’s stock valued at $166,655,000 after buying an additional 461,163 shares during the last quarter. BlackRock Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 8.2% in the second quarter. BlackRock Inc. now owns 11,230,214 shares of the real estate investment trust’s stock valued at $144,866,000 after buying an additional 855,357 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Ramco-Gershenson Properties Trust by 8.1% in the third quarter. Macquarie Group Ltd. now owns 5,825,988 shares of the real estate investment trust’s stock valued at $75,796,000 after buying an additional 437,323 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Ramco-Gershenson Properties Trust by 12.8% in the third quarter. Principal Financial Group Inc. now owns 3,332,208 shares of the real estate investment trust’s stock valued at $43,353,000 after buying an additional 378,813 shares during the last quarter. Finally, State Street Corp raised its position in shares of Ramco-Gershenson Properties Trust by 18.3% in the second quarter. State Street Corp now owns 3,086,615 shares of the real estate investment trust’s stock valued at $39,820,000 after buying an additional 476,883 shares during the last quarter.

In related news, CEO Dennis Earl Gershenson bought 25,000 shares of the stock in a transaction that occurred on Friday, December 14th. The stock was purchased at an average cost of $14.58 per share, for a total transaction of $364,500.00. Following the completion of the acquisition, the chief executive officer now owns 529,454 shares in the company, valued at $7,719,439.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.71% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on RPT. DA Davidson lowered shares of Ramco-Gershenson Properties Trust from a “buy” rating to a “neutral” rating and set a $14.00 price objective for the company. in a research report on Thursday, November 2nd. B. Riley reissued a “buy” rating on shares of Ramco-Gershenson Properties Trust in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 11th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, November 1st. Finally, Boenning Scattergood set a $13.00 price objective on shares of Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.86.

Ramco-Gershenson Properties Trust (NYSE RPT) opened at $13.73 on Friday. Ramco-Gershenson Properties Trust has a 52-week low of $11.86 and a 52-week high of $16.51. The firm has a market cap of $1,076.20, a P/E ratio of 23.27, a PEG ratio of 2.59 and a beta of 0.81.

Ramco-Gershenson Properties Trust (NYSE:RPT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. 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 during the quarter, compared to the consensus estimate of $66.07 million. During the same period in the previous year, the firm earned $0.34 earnings per share. Ramco-Gershenson Properties Trust’s revenue was up 1.3% compared to the same quarter last year. research analysts anticipate that Ramco-Gershenson Properties Trust will post 1.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Wednesday, December 20th were issued a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a $0.88 dividend on an annualized basis and a yield of 6.41%. Ramco-Gershenson Properties Trust’s payout ratio is 149.15%.

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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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Institutional Ownership by Quarter for Ramco-Gershenson Properties Trust (NYSE:RPT)

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