Ramco-Gershenson Properties Trust Declares Quarterly Dividend of $0.22 (RPT)

Ramco-Gershenson Properties Trust (NYSE:RPT) announced a quarterly dividend on Tuesday, February 5th, NASDAQ reports. Stockholders of record on Wednesday, March 20th will be given a dividend of 0.22 per share by the real estate investment trust on Monday, April 1st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend is Tuesday, March 19th.

Ramco-Gershenson Properties Trust has raised its dividend by an average of 2.8% per year over the last three years. Ramco-Gershenson Properties Trust has a dividend payout ratio of 63.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ramco-Gershenson Properties Trust to earn $1.15 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 76.5%.

RPT opened at $11.84 on Thursday. Ramco-Gershenson Properties Trust has a fifty-two week low of $11.15 and a fifty-two week high of $14.42. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $934.61 million, a PE ratio of 8.77, a PEG ratio of 2.22 and a beta of 0.76.

In related news, CEO Brian Harper acquired 8,500 shares of the stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average price of $11.78 per share, with a total value of $100,130.00. Following the acquisition, the chief executive officer now owns 284,281 shares in the company, valued at approximately $3,348,830.18. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David J. Nettina acquired 10,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were bought at an average cost of $11.81 per share, for a total transaction of $118,100.00. Following the acquisition, the director now owns 56,629 shares in the company, valued at approximately $668,788.49. The disclosure for this purchase can be found here. In the last three months, insiders have bought 21,500 shares of company stock worth $252,740. 3.52% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on RPT. Zacks Investment Research raised Ramco-Gershenson Properties Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. ValuEngine downgraded Ramco-Gershenson Properties Trust from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

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About Ramco-Gershenson Properties Trust

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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Dividend History for Ramco-Gershenson Properties Trust (NYSE:RPT)

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