RPT Realty (RPT) Expected to Post Quarterly Sales of $60.59 Million

Wall Street analysts forecast that RPT Realty (NYSE:RPT) will post sales of $60.59 million for the current quarter, Zacks reports. Four analysts have made estimates for RPT Realty’s earnings, with the lowest sales estimate coming in at $56.77 million and the highest estimate coming in at $62.34 million. RPT Realty reported sales of $62.72 million in the same quarter last year, which would suggest a negative year over year growth rate of 3.4%. The firm is expected to issue its next earnings report after the market closes on Wednesday, May 1st.

On average, analysts expect that RPT Realty will report full-year sales of $239.44 million for the current year, with estimates ranging from $222.56 million to $254.74 million. For the next financial year, analysts forecast that the firm will report sales of $244.00 million, with estimates ranging from $232.26 million to $257.85 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow RPT Realty.

RPT Realty (NYSE:RPT) last posted its earnings results on Wednesday, February 20th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.37). The company had revenue of $63.72 million for the quarter, compared to the consensus estimate of $63.30 million. RPT Realty had a return on equity of 2.30% and a net margin of 6.76%.

Several research firms recently commented on RPT. Zacks Investment Research downgraded RPT Realty from a “hold” rating to a “sell” rating in a research report on Friday, December 14th. ValuEngine upgraded RPT Realty from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $13.00.

Shares of RPT Realty stock traded down $0.05 during midday trading on Friday, hitting $12.05. 103,899 shares of the company were exchanged, compared to its average volume of 559,199. 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 company has a market capitalization of $952.21 million, a PE ratio of 8.93, a price-to-earnings-growth ratio of 46.25 and a beta of 0.76. RPT Realty has a 52 week low of $11.15 and a 52 week high of $14.42.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Wednesday, March 20th were given a $0.22 dividend. The ex-dividend date was Tuesday, March 19th. This represents a $0.88 annualized dividend and a yield of 7.30%. RPT Realty’s payout ratio is 65.19%.

In other RPT Realty news, CEO Brian Harper acquired 8,500 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was purchased at an average price of $11.78 per share, for a total transaction of $100,130.00. Following the transaction, the chief executive officer now owns 284,281 shares in the company, valued at approximately $3,348,830.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David J. Nettina acquired 10,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of $11.81 per share, with a total value of $118,100.00. Following the transaction, 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 quarter, insiders acquired 20,500 shares of company stock valued at $241,770. Corporate insiders own 3.64% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Flinton Capital Management LLC bought a new position in RPT Realty in the 4th quarter valued at $29,000. Russell Investments Group Ltd. increased its stake in shares of RPT Realty by 33.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 35,324 shares of the real estate investment trust’s stock valued at $480,000 after buying an additional 8,790 shares during the period. MetLife Investment Advisors LLC increased its stake in shares of RPT Realty by 53.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 58,180 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 20,204 shares during the period. Shell Asset Management Co. acquired a new stake in shares of RPT Realty in the 3rd quarter valued at $835,000. Finally, Martingale Asset Management L P acquired a new stake in shares of RPT Realty in the 3rd quarter valued at $1,125,000.

About RPT Realty

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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