Boenning & Scattergood Downgrades Ramco-Gershenson Properties Trust to Underperform

Brokerage firm Boenning & Scattergood Downgrades its rating on Ramco-Gershenson Properties Trust(NYSE:RPT). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Boenning & Scattergood was issued on Jun 28, 2016.

In a different note, On May 5, 2016, Wunderlich said it Maintains its rating on Ramco-Gershenson Properties Trust. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Buy’ by the firm. DA Davidson said it Initiates Coverage on Ramco-Gershenson Properties Trust, according to a research note issued on Apr 1, 2016. The shares have been rated ‘Buy’ by the firm.

Ramco-Gershenson Properties Trust (RPT) made into the market gainers list on Fridays trading session with the shares advancing 0.36% or 0.07 points. Due to strong positive momentum, the stock ended at $19.68, which is also near the day’s high of $19.83. The stock began the session at $19.72 and the volume stood at 3,07,216 shares. The 52-week high of the shares is $19.83 and the 52 week low is $14.74. The company has a current market capitalization of $1,559 M and it has 7,92,32,248 shares in outstanding.

Ramco-Gershenson Properties Trust(RPT) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $66.51M. Analysts had an estimated revenue of $66.65M. Earnings per share were $0.34. Analysts had estimated an EPS of $0.34.

Ramco-Gershenson Properties Trust is an integrated self-administered equity real estate investment trust (REIT) organized in Maryland. The Company is engaged in owning developing redeveloping acquiring managing and leasing shopping centers primarily in the United States. As of December 31 2014 its property portfolio consists of 67 wholly owned shopping centers and one office building consisting of approximately 14.2 million square feet. It owns 20% of Ramco 450 Venture LLC an entity that owns eight shopping centers comprising approximately 1.7 million square feet and 30% of Ramco/Lion Venture L.P. an entity that owns three shopping centers comprising approximately 0.8 million square feet. The Company conducts all of its business through its operating partnership Ramco-Gershenson Properties L.P. The Company invests primarily in shopping centers that include national chain store tenants and market dominant supermarket tenants.

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