RPT Realty (NYSE:RPT) Declares Quarterly Dividend of $0.13

RPT Realty (NYSE:RPT – Get Rating) announced a quarterly dividend on Friday, April 29th, Zacks reports. Shareholders of record on Friday, June 17th will be given a dividend of 0.13 per share by the real estate investment trust on Friday, July 1st. This represents a $0.52 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date is Thursday, June 16th.

RPT Realty has decreased its dividend by an average of 23.8% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. RPT Realty has a payout ratio of 1,733.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect RPT Realty to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 46.4%.

RPT opened at $13.29 on Friday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.35 and a beta of 1.54. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.64 and a quick ratio of 0.64. RPT Realty has a 1-year low of $11.82 and a 1-year high of $14.99. The business has a 50 day moving average price of $13.43 and a two-hundred day moving average price of $13.31.

RPT Realty (NYSE:RPT – Get Rating) last released its earnings results on Wednesday, February 16th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.39). The firm had revenue of $56.00 million during the quarter, compared to analyst estimates of $54.94 million. RPT Realty had a return on equity of 8.86% and a net margin of 32.15%. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Equities analysts expect that RPT Realty will post 1.03 EPS for the current fiscal year.

Several brokerages have issued reports on RPT. Raymond James cut their target price on shares of RPT Realty from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Friday, February 18th. StockNews.com initiated coverage on shares of RPT Realty in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. TheStreet downgraded shares of RPT Realty from a “b-” rating to a “c” rating in a research note on Wednesday, February 16th. Finally, Zacks Investment Research raised shares of RPT Realty from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, RPT Realty has a consensus rating of “Buy” and a consensus target price of $15.60.

Several hedge funds and other institutional investors have recently bought and sold shares of RPT. BlackRock Inc. boosted its holdings in RPT Realty by 5.8% in the fourth quarter. BlackRock Inc. now owns 15,585,364 shares of the real estate investment trust’s stock worth $208,533,000 after purchasing an additional 861,255 shares in the last quarter. Norges Bank bought a new stake in RPT Realty in the fourth quarter worth $9,990,000. Morgan Stanley boosted its holdings in RPT Realty by 7.4% in the second quarter. Morgan Stanley now owns 3,277,546 shares of the real estate investment trust’s stock worth $42,543,000 after purchasing an additional 225,928 shares in the last quarter. State Street Corp boosted its holdings in RPT Realty by 4.2% in the fourth quarter. State Street Corp now owns 4,846,240 shares of the real estate investment trust’s stock worth $65,442,000 after purchasing an additional 195,580 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in RPT Realty by 17.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 483,359 shares of the real estate investment trust’s stock worth $6,467,000 after purchasing an additional 73,079 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

RPT Realty Company Profile (Get Rating)

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.

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