Insider Selling: Ramco-Gershenson Properties Trust (RPT) Director Sells $276,507.03 in Stock

Ramco-Gershenson Properties Trust (NYSE:RPT) Director Joel M. Pashcow sold 24,319 shares of Ramco-Gershenson Properties Trust stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $11.37, for a total value of $276,507.03. Following the sale, the director now owns 85,978 shares in the company, valued at $977,569.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ramco-Gershenson Properties Trust opened at $11.82 on Friday, MarketBeat.com reports. Ramco-Gershenson Properties Trust has a 12 month low of $11.15 and a 12 month high of $15.00. The firm has a market capitalization of $956.35 million, a price-to-earnings ratio of 8.69, a P/E/G ratio of 2.45 and a beta of 0.57.

Ramco-Gershenson Properties Trust (NYSE:RPT) last released its earnings results 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). Ramco-Gershenson Properties Trust had a return on equity of 8.04% and a net margin of 24.33%. The company had revenue of $64.26 million during the quarter, compared to the consensus estimate of $65.81 million. sell-side analysts anticipate that Ramco-Gershenson Properties Trust will post 1.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Wednesday, June 20th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 7.45%. The ex-dividend date is Tuesday, June 19th. Ramco-Gershenson Properties Trust’s dividend payout ratio (DPR) is 64.71%.

A number of institutional investors have recently added to or reduced their stakes in RPT. SG Americas Securities LLC bought a new stake in Ramco-Gershenson Properties Trust in the first quarter worth $136,000. Brinker Capital Inc. raised its stake in shares of Ramco-Gershenson Properties Trust by 47.9% in the first quarter. Brinker Capital Inc. now owns 15,055 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 4,876 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Ramco-Gershenson Properties Trust in the fourth quarter worth $209,000. Verition Fund Management LLC purchased a new position in shares of Ramco-Gershenson Properties Trust in the fourth quarter worth $224,000. Finally, Ellington Management Group LLC purchased a new position in shares of Ramco-Gershenson Properties Trust in the fourth quarter worth $225,000.

RPT has been the topic of several research reports. B. Riley restated a “buy” rating and set a $14.00 price target (down from $15.50) on shares of Ramco-Gershenson Properties Trust in a research report on Thursday, February 22nd. Jefferies Group set a $12.00 price target on Ramco-Gershenson Properties Trust and gave the company a “hold” rating in a research report on Thursday, April 12th. Zacks Investment Research upgraded Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 21st. DA Davidson set a $12.00 price target on Ramco-Gershenson Properties Trust and gave the company a “hold” rating in a research report on Tuesday, May 8th. Finally, ValuEngine lowered Ramco-Gershenson Properties Trust from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.43.

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.

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