StockNews.com Initiates Coverage on RPT Realty (NYSE:RPT)

StockNews.com started coverage on shares of RPT Realty (NYSE:RPT) in a research report sent to investors on Friday morning. The firm issued a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. Raymond James cut shares of RPT Realty from an outperform rating to a market perform rating in a research note on Monday, August 28th. Mizuho increased their target price on shares of RPT Realty from $9.50 to $11.50 in a report on Thursday, July 20th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, RPT Realty currently has a consensus rating of Hold and a consensus price target of $11.38.

RPT Realty Price Performance

RPT opened at $11.31 on Friday. The company’s 50-day simple moving average is $10.74 and its two-hundred day simple moving average is $9.97. RPT Realty has a 52-week low of $7.28 and a 52-week high of $11.67. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a market capitalization of $981.35 million, a P/E ratio of 15.49, a P/E/G ratio of 2.95 and a beta of 1.63.

RPT Realty Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $0.56 dividend on an annualized basis and a yield of 4.95%. RPT Realty’s dividend payout ratio (DPR) is presently 76.71%.

Hedge Funds Weigh In On RPT Realty

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL purchased a new stake in RPT Realty during the 2nd quarter valued at $959,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of RPT Realty by 6.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,304 shares of the real estate investment trust’s stock valued at $275,000 after acquiring an additional 1,496 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of RPT Realty by 38.0% in the 2nd quarter. Alliancebernstein L.P. now owns 140,464 shares of the real estate investment trust’s stock worth $1,468,000 after acquiring an additional 38,679 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of RPT Realty by 40.9% during the 2nd quarter. Wells Fargo & Company MN now owns 42,992 shares of the real estate investment trust’s stock worth $449,000 after purchasing an additional 12,469 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in RPT Realty by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 117,052 shares of the real estate investment trust’s stock valued at $1,223,000 after purchasing an additional 1,133 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

RPT Realty Company Profile

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.