abrdn plc Increases Stock Position in RPT Realty (NYSE:RPT)

abrdn plc raised its holdings in RPT Realty (NYSE:RPTGet Rating) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,578 shares of the real estate investment trust’s stock after purchasing an additional 1,252 shares during the quarter. abrdn plc’s holdings in RPT Realty were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in RPT. Steward Partners Investment Advisory LLC purchased a new stake in RPT Realty in the 4th quarter valued at approximately $29,000. KBC Group NV purchased a new stake in RPT Realty in the 4th quarter valued at approximately $34,000. Van ECK Associates Corp boosted 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 purchasing an additional 2,757 shares in the last quarter. Schroder Investment Management Group boosted its holdings in RPT Realty by 47.8% in the 4th quarter. Schroder Investment Management Group now owns 7,418 shares of the real estate investment trust’s stock valued at $99,000 after purchasing an additional 2,399 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in RPT Realty in the 4th quarter valued at approximately $159,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of RPT Realty from a “buy” rating to a “hold” rating and reduced their price target for the company from $16.00 to $10.00 in a research report on Thursday, June 30th. Mizuho reduced their price target on shares of RPT Realty from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, July 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of RPT Realty from $17.00 to $14.00 in a research report on Monday, July 11th. Credit Suisse Group assumed coverage on shares of RPT Realty in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $13.00 price target for the company. Finally, StockNews.com downgraded shares of RPT Realty from a “hold” rating to a “sell” rating in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.00.

RPT Realty Stock Performance

Shares of RPT Realty stock opened at $10.65 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.76 and a quick ratio of 0.76. RPT Realty has a 1 year low of $9.25 and a 1 year high of $14.99. The company has a market capitalization of $906.43 million, a P/E ratio of 17.46, a P/E/G ratio of 1.14 and a beta of 1.49. The business has a 50 day moving average price of $10.50 and a 200 day moving average price of $12.13.

RPT Realty (NYSE:RPTGet Rating) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $54.80 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Sell-side analysts anticipate that RPT Realty will post 1.05 EPS for the current fiscal year.

RPT Realty Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 20th will be paid a $0.13 dividend. The ex-dividend date is Monday, September 19th. This represents a $0.52 annualized dividend and a yield of 4.88%. RPT Realty’s payout ratio is currently 85.25%.

RPT Realty Company Profile

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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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Institutional Ownership by Quarter for RPT Realty (NYSE:RPT)

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