Value Hunters: Look To RPT Realty (NYSE: RPT)

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FIVE Stock
FIVE Stock

The Vanguard Group, Inc. recently announced the acquisition of new stake in RPT Realty (NYSE:RPT). The institutional investor has increased its shareholding in the Real Estate company by 0.09% to 12.37 million shares with purchase of 11339.0 shares. This fresh investment now brings its stake to 15.35% valued currently at $71.37 million. In addition, Wellington Management Co. LLP raised its holdings by 0.53 million to 6.89 million shares. And SSgA Funds Management, Inc. has lifted its position by 9.66% or 0.4 million shares – to 4.54 million shares.

With over 0.52 million RPT Realty (RPT) shares trading Tuesday and a closing price of $6.53 on the day, the dollar volume was approximately $3.41 million. The shares have shown a negative weekly performance of -6.04% and its price on 07/07/20 lost nearly -5.36%. Currently, there are 79.91M common shares owned by the public and among those 79.47M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for RPT have a consensus price objective of $7.08. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the RPT Realty stock is 3.20 for the next 12 months. The average price target is 9.31% above its last price level and an upside to the estimated low will see the stock lose -30.6% over that period. But an upside of 27.44% will see the stock hit the forecast high price target while mean target price for the stock is $7.25.

Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 516,069 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 62,101 shares.

The top 3 mutual fund holders in RPT Realty are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Delaware Small Cap Core Fund. iShares Core S&P Small Cap ETF owns 4.82 million shares of the company’s stock, all valued at over $27.82 million. The company bought an additional 2135.0 shares recently to bring their total holdings to about 5.98% of the shares outstanding. Vanguard Real Estate Index Fund sold 77249.0 shares to see its total holdings shrink to 3.59 million shares valued at over $20.73 million and representing 4.46% of the shares outstanding. Delaware Small Cap Core Fund sold -0.61 million shares to bring its total holdings to over 2.63 million shares at a value of $15.16 million. Delaware Small Cap Core Fund now owns shares totaling to 3.26% of the shares outstanding.

Shares of RPT Realty (NYSE: RPT) opened at $6.77, down -$0.13 from a prior closing price of $6.90. However, the script later closed the day at $6.53, down -5.36%. The company’s stock has a 5-day price change of -6.04% and 17.45% over the past three months. RPT shares are trading -56.58% year to date (YTD), with the 12-month market performance down to -45.40% lower. It has a 12-month low price of $4.61 and touched a high of $15.18 over the same period. Currently, 0.52 million shares have been traded, compared to an average intraday trading volume of 1.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.71%, -1.50%, and -41.13% respectively.

Institutional ownership of RPT Realty (NYSE: RPT) shares is 79.91M shares outstanding. Mutual fund holders own 42.91%, while other institutional holders and individual stakeholders account for 59.97% and 1.44% respectively.

It has a market capitalization of $535.39M and a beta (3y monthly) value of 1.33. The stock’s trailing 12-month PE ratio is 9.49, while the earnings-per-share (ttm) stands at $0.69. The company has a debt-to-equity ratio of 1.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.72% over the week and 6.55% over the month.

Analysts forecast that RPT Realty (RPT) will achieve an EPS of -$0.03 for the current quarter, -$0.02 for the next quarter and -$0.16 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.04 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 635.70%, and -23.10% over the next financial year. EPS should shrink at an annualized rate of -4.03% over the next five years, compared to 55.40% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate RPT Realty (RPT) as a “Hold” at a consensus score of 3.20. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 4 of the 8 advise that investors “hold,” and 2 rated it as a “Sell.”

Looking at the support for the RPT, a number of firms have released research notes about the stock. JP Morgan stated their Underweight rating for the stock in a research note on April 22, 2020, with the firm’s price target at $6.50. Compass Point coverage for the RPT Realty (RPT) stock in a research note released on April 16, 2020 offered a Sell rating with a price target of $8. Compass Point was of a view on March 03, 2020 that the stock is Neutral, while Robert W. Baird gave the stock Outperform rating on December 19, 2019, issuing a price target of $13- $17. Compass Point on their part issued Sell rating on August 15, 2019.

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