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Last $18.14 USD
Change Today -0.11 / -0.60%
Volume 642.7K
RPT On Other Exchanges
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As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

ramco-gershenson properties (RPT) Key Developments

Ramco-Gershenson Properties Trust to Add Nordstrom Rack to Its West Oaks Shopping Center in Novi, Michigan

Ramco-Gershenson Properties Trust announced the addition of Nordstrom Rack to West Oaks, a 100% leased, 300,000 square foot shopping center located in the affluent community of Novi, Michigan. Ramco-Gershenson is creating space for Nordstrom Rack by right-sizing Gander Mountain and relocating David's Bridal within the center. Both stores will remain open during construction ensuring minimal hindrance on property level net operating income. Nordstrom Rack is expected to open in the fall of 2016. West Oaks benefits by its location directly across from the Twelve Oaks Mall and the convergence of Interstates I-696, I-96, and I-275.

Ramco-Gershenson Properties Trust Announces Opening of Ross Dress for Less® at Market Plaza

Ramco-Gershenson Properties Trust announced the opening of Ross Dress for Less® at Market Plaza, a 96% leased, 163,000 square foot shopping center located in the affluent community of Glen Ellyn, Illinois. Ross Dress for Less is the latest addition to the center, following a number of new store openings over the past two years, including Petco's Unleashed, Core Pore Yoga, Huntington Learning Center, and Meatheads Burgers. Ross Dress for Less joins Jewel-Osco, the number one grocer in Illinois, as a major anchor at the shopping center. The addition of Ross Dress for Less at Market Plaza not only bolsters the tenant line-up at the center, it also strengthens ties with the nation's larger off-price retailer, as this is fourth new Ross lease in just the last two years.

Ramco-Gershenson Properties Trust Declares First Quarter 2015 Common and Series D Convertible Perpetual Preferred Share Dividends, Payable on April 1, 2015

Ramco-Gershenson Properties Trust announced that its Board of Trustees declared a regular first quarter cash dividend of $0.20 per common share for the period of January 1, 2015 through March 31, 2015. The Board also declared a first quarter Series D convertible perpetual preferred share cash dividend of $0.90625 per share for the same period. The dividends are payable on April 1, 2015 to shareholders of record on March 20, 2015.

Ramco-Gershenson Mulls Acquisitions

Ramco-Gershenson Properties Trust (NYSE:RPT) intends to pursue acquisitions. "We will selectively review acquisition opportunities and plan to sell a number of non-core centers to fund the equity for these purchases, as well as our value-add improvement pipeline and the balance of our business plan," Dennis Gershenson, President and Chief Executive Officer, said.

Ramco-Gershenson Properties Trust Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Affirms Earnings Guidance for the Year 2015; Reports Non-Cash Impairment Charges for the Fourth Quarter of 2014

Ramco-Gershenson Properties Trust reported consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenue of $63,157,000 compared to $48,016,000 a year ago. Operating loss was $10,587,000 compared to operating income of $2,810,000 a year ago. Loss from continuing operations before tax was $12,520,000 compared to $5,302,000 a year ago. Net loss available to the common shareholders was $14,017,000 or $0.18 per basic and diluted share compared to $6,952,000 or $0.11 per basic and diluted share a year ago. FFO was $3,826,000 or $0.05 per diluted share compared to $20,631,000 or $0.28 per diluted share a year ago. Operating FFO was $29,091,000 or $0.33 per diluted share compared to $21,836,000 or $0.30 per diluted share a year ago. FFO for the fourth quarter of 2014 was reduced as the result of a non-cash impairment charge of approximately $23.3 million related to land available for development or sale. For the year, the company reported total revenue of $218,363,000 compared to $170,068,000 a year ago. Operating income was $23,330,000 compared to $35,460,000 a year ago. Loss from continuing operations before tax was $2,358,000 compared to profit from continuing operations before tax of $8,435,000 a year ago. Net loss available to the common shareholders was $9,614,000 or $0.14 per basic and diluted share compared to net income available to the common shareholders of $3,747,000 or $0.06 per basic and diluted share a year ago. FFO was $70,324,000 or $0.94 per diluted share compared to $79,861,000 or $1.16 per diluted share a year ago. Operating FFO was $103,503,000 or $1.27 per diluted share compared to $81,850,000 or $1.19 per diluted share a year ago. FFO for 2014 was reduced as the result of non-cash impairment charge of approximately $23.3 million related to land available for development or sale. The company has affirmed its 2015 guidance for operating FFO to $1.27 to $1.33 per diluted share. The company reported non-cash impairment charge of approximately $23.3 million for the fourth quarter of 2014 related to land available for development or sale.

 

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