RPT Realty (NYSE:RPT) Downgraded by Jefferies Financial Group to Hold

Jefferies Financial Group cut shares of RPT Realty (NYSE:RPTGet Rating) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat reports. Jefferies Financial Group currently has $10.00 price target on the real estate investment trust’s stock, down from their previous price target of $16.00.

RPT has been the topic of several other research reports. Credit Suisse Group started coverage on shares of RPT Realty in a research note on Wednesday, June 22nd. They set an outperform rating and a $13.00 price target on the stock. StockNews.com cut shares of RPT Realty from a hold rating to a sell rating in a research note on Sunday, June 26th. Finally, KeyCorp dropped their price target on shares of RPT Realty from $15.00 to $14.00 and set an overweight rating on the stock in a research note on Tuesday, June 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, RPT Realty has a consensus rating of Moderate Buy and an average target price of $14.00.

Shares of RPT stock opened at $9.89 on Thursday. RPT Realty has a 12-month low of $9.25 and a 12-month high of $14.99. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $11.58 and its 200 day moving average is $12.61. The stock has a market capitalization of $841.75 million, a P/E ratio of 16.21, a P/E/G ratio of 1.05 and a beta of 1.51.

RPT Realty (NYSE:RPTGet Rating) last issued its earnings results on Wednesday, May 4th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.20). RPT Realty had a return on equity of 7.22% and a net margin of 26.20%. The company had revenue of $56.09 million during the quarter, compared to analysts’ expectations of $54.80 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that RPT Realty will post 1.04 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Friday, June 17th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Thursday, June 16th. RPT Realty’s dividend payout ratio (DPR) is 85.25%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPT. Steward Partners Investment Advisory LLC purchased a new position in shares of RPT Realty during the 4th quarter valued at $29,000. KBC Group NV bought a new stake in RPT Realty in the 4th quarter valued at $34,000. Harvest Fund Management Co. Ltd bought a new stake in RPT Realty in the 1st quarter valued at $46,000. Federated Hermes Inc. increased its holdings in RPT Realty by 812.0% in the 1st quarter. Federated Hermes Inc. now owns 5,463 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 4,864 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in RPT Realty by 73.3% in the 4th quarter. Van ECK Associates Corp now owns 6,517 shares of the real estate investment trust’s stock valued at $87,000 after acquiring an additional 2,757 shares during the last quarter. Institutional investors own 94.40% of the company’s stock.

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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