RPT Realty (NYSE:RPT) Expected to Post Quarterly Sales of $55.24 Million

Brokerages predict that RPT Realty (NYSE:RPT – Get Rating) will announce sales of $55.24 million for the current quarter, Zacks reports. Three analysts have provided estimates for RPT Realty’s earnings, with the lowest sales estimate coming in at $54.49 million and the highest estimate coming in at $56.30 million. RPT Realty reported sales of $50.09 million during the same quarter last year, which indicates a positive year over year growth rate of 10.3%. The firm is expected to issue its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that RPT Realty will report full year sales of $221.93 million for the current financial year, with estimates ranging from $214.82 million to $226.68 million. For the next year, analysts forecast that the firm will post sales of $235.07 million, with estimates ranging from $221.99 million to $247.73 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for RPT Realty.

RPT Realty (NYSE:RPT – Get Rating) last announced its earnings results on Wednesday, February 16th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.39). The business had revenue of $56.00 million for 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 was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS.

A number of equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of RPT Realty from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, April 27th. TheStreet lowered shares of RPT Realty from a “b-” rating to a “c” rating in a research report on Wednesday, February 16th. StockNews.com assumed coverage on shares of RPT Realty in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Raymond James cut their price objective on shares of RPT Realty from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, February 18th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $15.60.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew 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 valued at $208,533,000 after purchasing an additional 861,255 shares during the period. Macquarie Group Ltd. grew its holdings in RPT Realty by 0.3% in the third quarter. Macquarie Group Ltd. now owns 7,394,859 shares of the real estate investment trust’s stock valued at $94,359,000 after purchasing an additional 24,820 shares during the period. State Street Corp grew 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 valued at $65,442,000 after purchasing an additional 195,580 shares during the period. Morgan Stanley grew 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 valued at $42,543,000 after purchasing an additional 225,928 shares during the period. Finally, Millennium Management LLC grew its holdings in RPT Realty by 33.3% in the fourth quarter. Millennium Management LLC now owns 1,838,948 shares of the real estate investment trust’s stock valued at $24,605,000 after purchasing an additional 459,433 shares during the period. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Shares of RPT opened at $13.00 on Tuesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $1.10 billion, a PE ratio of 17.33, a P/E/G ratio of 1.33 and a beta of 1.54. The business’s 50-day simple moving average is $13.43. RPT Realty has a 12-month low of $11.82 and a 12-month high of $14.99.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, June 16th. This represents a $0.52 dividend on an annualized basis and a yield of 4.00%. RPT Realty’s payout ratio is 69.33%.

About RPT Realty (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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