RPT Realty (NYSE:RPT) Price Target Reduced to $14.00


RPT Realty (NYSE: RPT – Get an Appraisal) saw its price target reduced by Deutsche Bank Aktiengesellschaft from $17.00 to $14.00 in a report on Monday, reports The Fly.

RPT has been the subject of a number of other research reports. Credit Suisse Group began covering RPT Realty in a research report on Wednesday, June 22. They issued an outperform rating and a price target of $13.00 on the stock. StockNews.com upgraded RPT Realty from a sell rating to a hold rating in a Monday, July 4 research report. KeyCorp cut its price target on RPT Realty from $15.00 to $14.00 and set an overweight rating on the stock in a Tuesday, June 28 research report. Finally, Jefferies Financial Group downgraded RPT Realty from a buy rating to a hold rating and reduced its price target for the company from $16.00 to $10.00 in a Thursday, June 30 research report. . Three investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, RPT Realty currently has a moderate average buy rating and an average price target of $13.67.

RPT shares opened at $9.70 on Monday. The company has a market capitalization of $825.58 million, a P/E ratio of 15.90, a P/E/G ratio of 1.04 and a beta of 1.51. RPT Realty has a twelve month minimum of $9.25 and a twelve month maximum of $14.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt ratio of 1.05. The stock’s fifty-day simple moving average is $11.20 and its 200-day simple moving average is $12.51.

RPT Realty (NYSE:RPT – Get Rating) last released quarterly earnings data on Wednesday, May 4. The real estate investment trust reported earnings per share of $0.05 for the quarter, missing consensus analyst estimates of $0.25 per ($0.20). RPT Realty had a return on equity of 7.22% and a net margin of 26.20%. The company posted revenue of $56.09 million for the quarter, versus a consensus estimate of $54.80 million. In the same quarter of the previous year, the company achieved EPS of $0.19. The company’s revenue increased 12.0% year over year. As a group, equity research analysts expect RPT Realty to post EPS of 1.04 for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1. Investors of record on Friday, June 17 received a dividend of $0.13 per share. This represents a dividend of $0.52 on an annualized basis and a yield of 5.36%. The ex-dividend date was Thursday, June 16. RPT Realty’s dividend payout ratio (DPR) is currently 85.25%.

A number of hedge funds have been buying and selling stocks recently. BlackRock Inc. increased its stake in RPT Realty by 0.5% during the 1st quarter. BlackRock Inc. now owns 15,659,335 shares of the real estate investment trust worth $215,629,000 after purchasing an additional 73,971 shares during the period. Vanguard Group Inc. increased its stake in RPT Realty by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,825,033 shares of the real estate investment trust worth $190,372,000 after purchasing an additional 465,526 shares during the period. State Street Corp increased its stake in RPT Realty by 11.3% during the 1st quarter. State Street Corp now owns 5,392,453 shares of the real estate investment trust worth $74,946,000 after purchasing an additional 546,213 shares during the period. Centersquare Investment Management LLC increased its stake in RPT Realty by 39.9% during the 1st quarter. Centersquare Investment Management LLC now owns 4,180,324 shares of the real estate investment trust worth $57,563,000 after purchasing an additional 1,193,249 shares during the period. Finally, Millennium Management LLC increased its stake in RPT Realty shares by 33.3% in the fourth quarter. Millennium Management LLC now owns 1,838,948 shares of the real estate investment trust worth $24,605,000 after purchasing an additional 459,433 shares in the last quarter. 94.40% of the shares are currently held by institutional investors and hedge funds.

Company Profile RPT Realty (Get a rating)

RPT Realty owns and operates a national portfolio of outdoor shopping destinations primarily located in major US markets. The Company’s shopping malls provide diverse and local consumer experiences that reflect the lifestyles of surrounding communities and meet the modern expectations of the Company’s retail partners.

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Richard L. Militello