Northern Trust Corp Has $38.50 Million Position in Ramco-Gershenson Properties Trust (RPT)

Northern Trust Corp boosted its stake in shares of Ramco-Gershenson Properties Trust (NYSE:RPT) by 36.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,984,300 shares of the real estate investment trust’s stock after buying an additional 793,612 shares during the period. Northern Trust Corp owned approximately 3.76% of Ramco-Gershenson Properties Trust worth $38,496,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Janus Capital Management LLC increased its position in Ramco-Gershenson Properties Trust by 0.6% during the 1st quarter. Janus Capital Management LLC now owns 171,469 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 1,103 shares in the last quarter. US Bancorp DE increased its position in Ramco-Gershenson Properties Trust by 11.7% during the 1st quarter. US Bancorp DE now owns 18,806 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 1,973 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Ramco-Gershenson Properties Trust by 2.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 77,655 shares of the real estate investment trust’s stock valued at $1,002,000 after buying an additional 1,974 shares in the last quarter. California Public Employees Retirement System increased its position in Ramco-Gershenson Properties Trust by 2.0% during the 1st quarter. California Public Employees Retirement System now owns 125,613 shares of the real estate investment trust’s stock valued at $1,761,000 after buying an additional 2,500 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Ramco-Gershenson Properties Trust by 0.5% during the 1st quarter. Teachers Advisors LLC now owns 600,838 shares of the real estate investment trust’s stock valued at $8,424,000 after buying an additional 3,082 shares in the last quarter. 98.69% of the stock is owned by institutional investors.

Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.05 million. Ramco-Gershenson Properties Trust had a net margin of 15.05% and a return on equity of 4.99%. Ramco-Gershenson Properties Trust’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Tuesday, September 19th. Ramco-Gershenson Properties Trust’s payout ratio is presently 214.64%.

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RPT has been the subject of a number of analyst reports. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Friday, July 28th. ValuEngine lowered Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Tuesday, June 20th. KeyCorp reaffirmed a “buy” rating and set a $16.00 price objective on shares of Ramco-Gershenson Properties Trust in a research report on Wednesday, October 4th. Finally, Boenning Scattergood set a $13.00 price objective on Ramco-Gershenson Properties Trust and gave the company a “sell” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.14.

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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