6 Meridian Has $480,000 Stake in Ramco-Gershenson Properties Trust (RPT)

6 Meridian grew its stake in Ramco-Gershenson Properties Trust (NYSE:RPT) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,810 shares of the real estate investment trust’s stock after purchasing an additional 7,232 shares during the quarter. 6 Meridian’s holdings in Ramco-Gershenson Properties Trust were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its stake in shares of Ramco-Gershenson Properties Trust by 2.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 180,492 shares of the real estate investment trust’s stock valued at $2,231,000 after purchasing an additional 5,050 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of Ramco-Gershenson Properties Trust by 2.8% in the 1st quarter. Virginia Retirement Systems ET AL now owns 271,100 shares of the real estate investment trust’s stock valued at $3,351,000 after purchasing an additional 7,500 shares during the period. Swiss National Bank lifted its stake in shares of Ramco-Gershenson Properties Trust by 6.7% in the 4th quarter. Swiss National Bank now owns 139,600 shares of the real estate investment trust’s stock valued at $2,056,000 after purchasing an additional 8,800 shares during the period. Aperio Group LLC lifted its stake in shares of Ramco-Gershenson Properties Trust by 24.3% in the 4th quarter. Aperio Group LLC now owns 54,675 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 10,698 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Ramco-Gershenson Properties Trust in the 1st quarter valued at $136,000.

A number of research analysts have recently weighed in on RPT shares. B. Riley reissued a “buy” rating and issued a $14.00 price target (down previously from $15.50) on shares of Ramco-Gershenson Properties Trust in a research note on Thursday, February 22nd. Jefferies Group set a $12.00 price objective on Ramco-Gershenson Properties Trust and gave the stock a “hold” rating in a research note on Thursday, April 12th. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st. DA Davidson set a $12.00 price objective on Ramco-Gershenson Properties Trust and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Finally, ValuEngine downgraded Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. Ramco-Gershenson Properties Trust presently has an average rating of “Hold” and a consensus price target of $13.43.

Shares of Ramco-Gershenson Properties Trust opened at $11.74 on Wednesday, Marketbeat reports. The firm has a market cap of $912.34 million, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 2.34 and a beta of 0.57. Ramco-Gershenson Properties Trust has a 12 month low of $11.15 and a 12 month high of $15.00.

Ramco-Gershenson Properties Trust (NYSE:RPT) last issued its quarterly earnings data on Tuesday, February 20th. The real estate investment trust reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.09). The business had revenue of $64.26 million for the quarter, compared to analyst estimates of $65.81 million. Ramco-Gershenson Properties Trust had a return on equity of 8.04% and a net margin of 24.33%. analysts expect that Ramco-Gershenson Properties Trust will post 1.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Wednesday, June 20th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 7.50%. The ex-dividend date of this dividend is Tuesday, June 19th. Ramco-Gershenson Properties Trust’s payout ratio is presently 64.71%.

In other Ramco-Gershenson Properties Trust news, Director Joel M. Pashcow sold 25,049 shares of the stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $11.45, for a total transaction of $286,811.05. Following the completion of the transaction, the director now owns 135,029 shares in the company, valued at approximately $1,546,082.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joel M. Pashcow sold 24,319 shares of the stock in a transaction dated Friday, May 18th. The stock was sold at an average price of $11.37, for a total value of $276,507.03. Following the transaction, the director now owns 85,978 shares of the company’s stock, valued at approximately $977,569.86. The disclosure for this sale can be found here. Insiders have sold a total of 74,843 shares of company stock worth $861,376 in the last ninety days. 3.52% of the stock is currently owned by company insiders.

About Ramco-Gershenson Properties Trust

Ramco-Gershenson Properties Trust (NYSE:RPT) is a premier, national publicly-traded shopping center real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company's primary business is the ownership and management of regional dominant and urban-oriented, infill shopping centers in key growth markets in the 40 largest metropolitan markets in the United States.

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

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