RPT Realty (NYSE:RPT) Sees Significant Growth in Short Interest

RPT Realty (NYSE:RPT) saw a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 5,200,000 shares, an increase of 14.5% from the January 15th total of 4,540,000 shares. Based on an average daily trading volume, of 614,900 shares, the days-to-cover ratio is presently 8.5 days. Approximately 6.6% of the company’s stock are short sold.

Several brokerages have weighed in on RPT. Zacks Investment Research raised RPT Realty from a “sell” rating to a “hold” rating in a report on Saturday, February 1st. ValuEngine upgraded RPT Realty from a “sell” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Robert W. Baird upgraded shares of RPT Realty from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $13.00 to $17.00 in a report on Thursday, December 19th.

Several institutional investors and hedge funds have recently made changes to their positions in RPT. First Mercantile Trust Co. raised its stake in RPT Realty by 2.8% in the 3rd quarter. First Mercantile Trust Co. now owns 25,572 shares of the real estate investment trust’s stock worth $346,000 after acquiring an additional 694 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in RPT Realty by 3.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 29,707 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 970 shares during the last quarter. 6 Meridian grew its stake in RPT Realty by 2.3% during the 4th quarter. 6 Meridian now owns 45,386 shares of the real estate investment trust’s stock valued at $683,000 after purchasing an additional 1,042 shares during the last quarter. Amalgamated Bank increased its holdings in shares of RPT Realty by 10.5% in the fourth quarter. Amalgamated Bank now owns 13,419 shares of the real estate investment trust’s stock valued at $202,000 after purchasing an additional 1,270 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of RPT Realty by 52.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 1,408 shares during the period.

Shares of NYSE RPT traded up $0.15 during midday trading on Friday, reaching $14.70. The company had a trading volume of 282,000 shares, compared to its average volume of 574,772. The business’s 50-day simple moving average is $14.54 and its 200 day simple moving average is $13.77. The stock has a market cap of $1.18 billion, a P/E ratio of 147.00, a P/E/G ratio of 7.15 and a beta of 0.75. RPT Realty has a 1 year low of $11.26 and a 1 year high of $15.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.34.

RPT Realty Company Profile

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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