Ramco-Gershenson (RPT) Tops Q1 EPS by 8c, Operating FFO of $0.35, Beat on Revenue

Ramco-Gershenson (NYSE: RPT) reported Q1 EPS of $0.14, $0.08 better than the analyst estimate of $0.06. Revenue for the quarter came in at $67.83 million versus the consensus estimate of $66.63 million.

FIRST QUARTER FINANCIAL AND OPERATING RESULTS:

• Net income attributable to common shareholders of $0.14 per diluted share, compared to $0.13 per diluted share for the same period in 2016.
• Operating Funds from Operations (“Operating FFO”) of $0.35 per diluted share, compared to $0.34 per diluted share for the same period in 2016.
• Generated same property NOI growth with redevelopment of 4.1% for the three months ended March 31, 2017.
• Signed 70 comparable leases encompassing 438,631 square feet at a positive leasing spread of 7.7%.
• Acquired two shopping centers, a regional dominant center in Mt. Juliet (Nashville), Tennessee and an urban-oriented, infill center in Lincoln Park (Chicago), Illinois for $168.3 million.
• Sold two Michigan shopping centers totaling 242,626 square feet for $27.5 million.

For earnings history and earnings-related data on Ramco-Gershenson (RPT) click here.

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