Last €12.23 EUR
Change Today -0.001 / -0.01%
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ramco-gershenson properties (R4F) Snapshot

Open
€12.23
Previous Close
€12.23
Day High
€12.23
Day Low
€12.23
52 Week High
06/6/14 - €12.41
52 Week Low
09/3/13 - €10.68
Market Cap
836.1M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
68.4M
EX-Date
06/18/14
P/E TM
--
Dividend
€0.75
Dividend Yield
4.49%
Current Stock Chart for RAMCO-GERSHENSON PROPERTIES (R4F)

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ramco-gershenson properties (R4F) Details

Ramco-Gershenson Properties Trust, a real estate investment trust (REIT), engages in the ownership, development, acquisition, management, and leasing of community shopping centers, single tenant retail properties, and one regional mall in the Midwestern, Southeastern, and Mid-Atlantic regions of the United States. As of December 31, 2007, the company owned interests in 89 shopping centers, which included 65 community centers, 21 power centers, 2 single tenant retail properties, and 1 enclosed regional mall. Ramco-Gershenson Properties has elected to be a taxable REIT for federal income tax purposes. As a REIT, it would not be subject to federal income taxes, if it distributes approximately 90% of its taxable income to its shareholders. The company was founded in 1988 and is based in Farmington Hills, Michigan with additional office in Boca Raton, Florida.

108 Employees
Last Reported Date: 02/27/14
Founded in 1988

ramco-gershenson properties (R4F) Top Compensated Officers

Chief Executive Officer, President, Trustee a...
Total Annual Compensation: $546.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $397.2K
Senior Vice President of Asset Management
Total Annual Compensation: $441.1K
Executive Vice President
Total Annual Compensation: $438.7K
Senior Vice President of Acquisitions
Total Annual Compensation: $437.2K
Compensation as of Fiscal Year 2013.

ramco-gershenson properties (R4F) Key Developments

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.

Ramco-Gershenson Properties Trust Announces Agreements for $175 Million in New Long-Term Unsecured Financing

Ramco-Gershenson Properties Trust announced two agreements in principle for an aggregate $175 million of long-term, senior unsecured debt financing. Proceeds will be used to repay existing debt with shorter-term maturities. The company has reached an agreement to issue a $100 million private placement of senior unsecured notes with Prudential Capital Group. The financing will consist 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 sale of these notes is expected to close on May 28, 2014. The company has also agreed to a 'shelf' facility that will allow it to issue another $50 million in notes with Prudential Capital Group over the next three years, subject to approval, pricing, and documentation. The company has also reached an agreement for a $75 million senior unsecured term loan fully underwritten and arranged by Capital One, N.A. The loan has a term of seven years, is pre-payable without penalty after two years, and is expandable pursuant to a $75 million accordion feature. The term loan will bear interest at an annual rate of LIBOR plus 1.25% to 2.25% (initially 1.70%) depending upon the company's leverage or credit ratings. Interest expense will be hedged with an existing interest rate swap expiring in April 2016, resulting in an effective fixed initial annual rate of 2.9%. Documentation and funding of the loan is expected to be completed by the end of May. Proceeds from the two financings will be used to repay $45 million of variable-rate borrowings outstanding under the Company's unsecured revolving line of credit, $45 million of variable-rate bank term debt due 2017, and $75 million of bank term debt due in 2017 that is subject to the interest-rate swap referred to above, as well as for general corporate purposes. The Company expects to record a charge for the early extinguishment of debt in the second quarter of approximately $852,000, or $0.01 per diluted share.

Ramco-Gershenson Properties Trust Announces Second Quarter 2014 Common and Series D Convertible Perpetual Preferred Share Dividends, Payable on July 1, 2014

Ramco-Gershenson Properties Trust announced that on May 6, 2014, its Board of Trustees declared a second quarter common share dividend of $0.1875 per share for the period of April 1, 2014 through June 30, 2014 and a second quarter Series D convertible perpetual preferred share dividend of $0.90625 per share for the same period. The dividends are payable on July 1, 2014 to shareholders of record on June 20, 2014.

 

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