RPT Realty (RPT) to Issue Quarterly Dividend of $0.12 on October 1st

RPT Realty (NYSE:RPT) declared a quarterly dividend on Thursday, August 5th, Wall Street Journal reports. Stockholders of record on Monday, September 20th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, October 1st. This represents a $0.48 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, September 17th. This is a positive change from RPT Realty’s previous quarterly dividend of $0.08.

RPT Realty has decreased its dividend by 75.0% over the last three years. RPT Realty has a payout ratio of 2,400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect RPT Realty to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 46.6%.

Shares of RPT stock opened at $12.72 on Wednesday. The firm has a market cap of $1.03 billion, a P/E ratio of 27.65, a PEG ratio of 1.67 and a beta of 1.65. RPT Realty has a 1-year low of $4.79 and a 1-year high of $14.00. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50-day simple moving average is $12.71 and its 200-day simple moving average is $12.56.

RPT Realty (NYSE:RPT) last posted its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.20. The firm had revenue of $52.22 million during the quarter, compared to the consensus estimate of $50.91 million. RPT Realty had a net margin of 23.21% and a return on equity of 6.28%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 EPS. Analysts expect that RPT Realty will post 0.9 earnings per share for the current fiscal year.

A number of analysts recently issued reports on RPT shares. Zacks Investment Research downgraded shares of RPT Realty from a “buy” rating to a “hold” rating in a research report on Wednesday, September 1st. KeyCorp increased their target price on shares of RPT Realty from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of RPT Realty from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, June 8th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

In other news, VP Timothy Collier sold 3,356 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $12.95, for a total transaction of $43,460.20. Following the completion of the sale, the vice president now owns 70,499 shares of the company’s stock, valued at $912,962.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Raymond J. Merk sold 2,460 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $12.90, for a total transaction of $31,734.00. Following the sale, the chief accounting officer now directly owns 33,621 shares of the company’s stock, valued at approximately $433,710.90. The disclosure for this sale can be found here. Insiders sold 11,791 shares of company stock valued at $154,331 in the last ninety days. 1.60% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in RPT Realty stock. Morgan Stanley increased its position in shares of RPT Realty (NYSE:RPT) by 7.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,277,546 shares of the real estate investment trust’s stock after purchasing an additional 225,928 shares during the quarter. Morgan Stanley owned 4.04% of RPT Realty worth $42,543,000 at the end of the most recent reporting period. 91.48% of the stock is currently owned by institutional investors and hedge funds.

RPT Realty Company Profile

RPT Realty operates as a real estate investment trust. The firm develops, manages, and leases out commercial properties. Its portfolio includes shopping centers, supermarkets, and retail shops. The company was founded on May 1, 1996 and is headquartered in New York, NY.

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Dividend History for RPT Realty (NYSE:RPT)

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