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.
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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