Ramco-Gershenson (NYSE: RPT) reported Q3 EPS of $0.33, versus $0.15 reported last year.

• Net income available to common shareholders of $0.33 per diluted share, compared to $0.15 per diluted share for the same period in 2016, reflecting higher gains on real estate sales during the third quarter of 2017.
• Operating Funds from Operations (“Operating FFO”) of $0.34 per diluted share, compared to $0.34 per diluted share for the same period in 2016.
• Generated same property NOI growth with redevelopment of 1.4% for the three months ended September 30, 2017, positively impacted by strong minimum rent growth of 2.7%, offset by higher expenses net of recovery income as compared to the same period in 2016.
• Sold $98 million in non-core properties, including five Michigan shopping centers.
• Posted portfolio leased occupancy of 93.0%, compared to 94.2% for the same period in 2016.
• Signed 38 comparable leases encompassing 193,561 square feet at a positive leasing spread of 12.3% with an average base rent of $20.67 per square feet.
• Increased ABR to $14.49 per square foot, compared to $13.71 for the same period in 2016.

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