Last $16.90 USD
Change Today -0.06 / -0.35%
Volume 559.3K
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As of 8:04 PM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

ramco-gershenson properties (RPT) Key Developments

Ramco-Gershenson Properties Trust Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Raises Earnings Guidance for 2014

Ramco-Gershenson Properties Trust reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, total revenue was $49.930 million against $42.702 million a year ago. Operating income was $6.732 million against $11.309 million a year ago. Income from continuing operation before tax was $1.119 million against $4.079 million a year ago. Income from continuing operation was $1.120 million or $0.01 per diluted share against $4.092 million or $0.03 per diluted share a year ago. Net income attributable to the company was $1.086 million against $5.574 million a year ago. Net loss available to common shareholder was $0.727 million or $0.01 per diluted share against net income available to common shareholder of $3.761 million or $0.06 per diluted share a year ago. Fund from operation was $22.867 million or $0.29 per diluted share against $19.583 million or $0.28 per diluted share a year ago. Operating FFO was $24.178 million or $0.31 per diluted share against $20.032 million or $0.29 per diluted share a year ago. For the six months, total revenue was $100.063 million against $76.640 million a year ago. Operating income was $19.135 million against $19.539 million a year ago. Income from continuing operation before tax was $3.897 million against $8.949 million a year ago. Income from continuing operation was $3.881 million or nil per diluted share against $8.919 million or $0.08 per diluted share a year ago. Net income attributable to the company was $3.758 million against $10.623 million a year ago. Net income available to common shareholder was $0.133 million or nil per diluted share against $6.998 million or $0.12 per diluted share a year ago. Fund from operation was $45.888 million or $0.59 per diluted share against $38.394 million or $0.59 per diluted share a year ago. Operating FFO was $47.175 million or $0.61 per diluted share against $39.075 million or $0.60 per diluted share a year ago. The company is increasing its 2014 guidance for operating FFO to $1.22 to $1.26 per diluted share from its prior guidance of $1.20 to $1.26 per diluted share.

Ramco-Gershenson Properties Trust Acquires Two High-Quality Shopping Centers in Minneapolis-St. Paul and Cincinnati Markets

Ramco-Gershenson Properties Trust announced that it has acquired two strategic, multi-anchored community shopping centers in Minneapolis-St. Paul, Minnesota and Cincinnati, Ohio for approximately $150 million. The acquisitions were financed with $58.6 million of assumed mortgage debt, $9.9 million in disposition proceeds, $60.0 million in borrowings under the company's revolving line of credit, and $21.5 million in cash.

Ramco-Gershenson Properties Trust to Report Q2, 2014 Results on Jul 22, 2014

Ramco-Gershenson Properties Trust announced that they will report Q2, 2014 results After-Market on Jul 22, 2014

Ramco-Gershenson Properties Trust, Q2 2014 Earnings Call, Jul 23, 2014

Ramco-Gershenson Properties Trust, Q2 2014 Earnings Call, Jul 23, 2014

Ramco-Gershenson Properties Trust Completes $175 Million of Long-Term, Unsecured Financings

Ramco-Gershenson Properties Trust announced that is has completed financing transactions for an aggregate $175 million of long-term, senior unsecured debt. The company completed a $100 million private placement of senior unsecured notes with Prudential Capital Group. The financing consists of $50 million of notes with a ten-year term priced at a fixed interest rate of 4.65% and $50 million of notes with a twelve-year term priced at a fixed interest rate of 4.74%. The company also closed a $75 million senior unsecured term loan fully underwritten and arranged by Capital One, N.A. The loan has a term of seven years and bears interest at an annual rate of LIBOR plus 1.25% to 2.25% depending upon the company's leverage or credit ratings.

 

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Price/Sales 6.0x
Price/Book 1.7x
Price/Cash Flow 15.5x
TEV/Sales 1.4x
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