Ramco-Gershenson (NYSE: RPT) reported Q3 EPS of $0.05, $0.03 better than the analyst estimate of $0.02.

• Net income attributable to common shareholders for the third quarter 2019 of $3.8 million, or $0.05 per diluted share, compared to $8.4 million, or $0.10 per diluted share for the same period in 2018.
• Raised the midpoint of 2019 guidance assumptions for Same property NOI growth by 25 basis points to 4.00% and operating FFO per share by $0.01 cents to $1.09 per share.
• Same property net operating income ("Same property NOI") increased 4.7% in the third quarter and 4.4% year-to-date compared to the same periods in 2018.
• Same property NOI growth in the third quarter 2019 was driven by a 3.5% increase in base rent.
• Received binding commitments for a $660 million amended and restated unsecured credit facility.

"Our third quarter results again exceeded our projections, which is a direct reflection of the positive changes that have been implemented at RPT since June of last year," said Brian Harper, President and Chief Executive Officer. "The improvements we have made across the platform are clearly evident in our year-to-date same property NOI growth of 4.4% and growth of 4.7% for the third quarter. In October, we obtained commitments for our $660 million credit facility which, upon close, will proactively address our maturities over the next few years while capitalizing on the current low interest rate environment. With strong tailwinds from our 2019 leasing activity and our near term financing needs addressed, we head into 2020 with great confidence and strong visibility into our business."

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