Deutsche Bank Upgrades Ramco-Gershenson Properties Trust (RPT) to Buy
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Price: $10.81 -1.28%
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
Rating Summary:
5 Buy, 11 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 19
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Deutsche Bank upgraded Ramco-Gershenson Properties Trust (NYSE: RPT) from Hold to Buy with a price target of $17.00 (from $16.00). Analyst Vin Chao thinks the stock's discount is unwarranted.
"Following a strategic review of its business in the wake of the Great Recession, RPT has improved its corporate governance policies, strengthened the balance sheet, and made significant progress in backfilling its big box vacancies. Despite these structural changes and a strong YTD return, the shares still trade at a 3.8 turn discount to its Local Retail peers on a NTM FFO basis, which is in-line with the long-term historical discount. However, we think some compression of the discount is warranted in light of the changes made by the company over the past few years," said Chao.
For an analyst ratings summary and ratings history on Ramco-Gershenson Properties Trust click here. For more ratings news on Ramco-Gershenson Properties Trust click here.
Shares of Ramco-Gershenson Properties Trust closed at $15.69 yesterday.
"Following a strategic review of its business in the wake of the Great Recession, RPT has improved its corporate governance policies, strengthened the balance sheet, and made significant progress in backfilling its big box vacancies. Despite these structural changes and a strong YTD return, the shares still trade at a 3.8 turn discount to its Local Retail peers on a NTM FFO basis, which is in-line with the long-term historical discount. However, we think some compression of the discount is warranted in light of the changes made by the company over the past few years," said Chao.
For an analyst ratings summary and ratings history on Ramco-Gershenson Properties Trust click here. For more ratings news on Ramco-Gershenson Properties Trust click here.
Shares of Ramco-Gershenson Properties Trust closed at $15.69 yesterday.
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