StockNews.com Initiates Coverage on RPT Realty (NYSE:RPT)

StockNews.com started coverage on shares of RPT Realty (NYSE:RPT) in a research note released on Friday morning. The brokerage issued a hold rating on the real estate investment trust’s stock.

Several other analysts have also issued reports on RPT. Mizuho boosted their price objective on shares of RPT Realty from $9.50 to $11.50 in a report on Thursday, July 20th. Raymond James downgraded RPT Realty from an outperform rating to a market perform rating in a research report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $11.38.

RPT Realty Trading Down 1.4 %

Shares of RPT stock opened at $11.31 on Friday. The stock has a market cap of $981.35 million, a price-to-earnings ratio of 15.49, a PEG ratio of 2.95 and a beta of 1.63. RPT Realty has a twelve month low of $7.28 and a twelve month high of $11.67. The company’s 50-day moving average price is $10.74 and its 200-day moving average price is $9.97. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 0.98.

RPT Realty Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Wednesday, September 20th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Tuesday, September 19th. RPT Realty’s payout ratio is currently 76.71%.

Institutional Investors Weigh In On RPT Realty

Several large investors have recently modified their holdings of the stock. Virginia Retirement Systems ET AL purchased a new stake in shares of RPT Realty during the second quarter worth approximately $959,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of RPT Realty by 6.0% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,304 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 1,496 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of RPT Realty by 38.0% during the second quarter. Alliancebernstein L.P. now owns 140,464 shares of the real estate investment trust’s stock worth $1,468,000 after purchasing an additional 38,679 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of RPT Realty by 40.9% during the second quarter. Wells Fargo & Company MN now owns 42,992 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 12,469 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of RPT Realty by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 117,052 shares of the real estate investment trust’s stock worth $1,223,000 after purchasing an additional 1,133 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

RPT Realty Company Profile

RPT Realty owns and operates a national portfolio of open-air shopping destinations principally located in top U.S. markets. The Company's shopping centers offer diverse, locally-curated consumer experiences that reflect the lifestyles of their surrounding communities and meet the modern expectations of the Company's retail partners.