First Trust Capital Management LP recently announced the acquisition of new stake in RPT Realty (NYSE:RPT). This fresh investment now brings its stake to 3.35% valued currently at $33.32 million. In addition, Water Island Capital LLC raised its holdings by 1.93 million to 1.93 million shares. And Geode Capital Management LLC has lifted its position by 1.19% or 22507.0 shares – to 1.92 million shares.
With over 40.01 million RPT Realty (RPT) shares trading Friday and a closing price of $12.83 on the day, the dollar volume was approximately $513.32 million. The shares have shown a positive half year performance of 23.32% and its price on 12/29/23 lost nearly -2.51%. Currently, there are 85.53M common shares owned by the public and among those 77.94M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for RPT have a consensus price objective of $11.25. The analysts have set the share’s price value over the next 12 months at a high of $11.50 and a low of $11.00. The average price target is -14.04% below its recent price level and a downside to the estimated low will see the stock lose -16.64% over that period. But a downside of -11.57% will see the stock hit the forecast high price target while median target price for the stock is $11.25.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 317,341 shares. Insider sales of the common stock occurred on 15 occasions, with total insider shares sold totaling 107,146 shares.
The top 3 mutual fund holders in RPT Realty are iShares Core S&P Small Cap ETF, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 5.34 million shares of the company’s stock, all valued at over $62.11 million. The company bought an additional 2964.0 shares recently to bring their total holdings to about 6.24% of the shares outstanding. Vanguard Real Estate Index Fund sold 15382.0 shares to see its total holdings shrink to 3.58 million shares valued at over $41.55 million and representing 4.17% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 3.11% of the shares outstanding.
Shares of RPT Realty (NYSE: RPT) opened at $13.13, down -$0.03 from a prior closing price of $13.16. However, the script later moved the day high at 13.17, down -2.51%. The company’s stock has a 5-day price change of -2.88% and 22.03% over the past three months. RPT shares are trading 28.35% year to date (YTD), with the 12-month market performance up to 31.36% higher. It has a 12-month low price of $8.58 and touched a high of $13.78 over the same period. RPT has an average intraday trading volume of 807.96K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.62%, 10.79%, and 23.61% respectively.
Institutional ownership of RPT Realty (NYSE: RPT) shares accounts for 102.40% of the company’s 85.53M shares outstanding. Mutual fund holders own 40.86%, while other institutional holders and individual stakeholders account for 55.27% and 2.94% respectively.
It has a market capitalization of $1.03B and a beta (3y monthly) value of 1.66. The stock’s trailing 12-month PE ratio is 26.21, while the earnings-per-share (ttm) stands at $0.49. The company has a debt-to-equity ratio at 0.97. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.55% over the week and 2.37% over the month.
Analysts forecast that RPT Realty (RPT) will achieve an EPS of -$0.04 for the current quarter, -$0.01 for the next quarter and -$0.07 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.03. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -117.42%, and 51.61% over the next financial year. EPS should shrink at an annualized rate of -4.03% over the next five years, compared to 2.76% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate RPT Realty (RPT) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the RPT, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on January 04, 2023, with the firm’s price target at $13-$12.
