UPDATE: Stifel Nicolaus Raises PT to $16 on Ramco-Gershenson Properties Trust on Outlook
Stifel Nicolaus reiterated its Buy rating on Ramco-Gershenson Properties Trust (NYSE: RPT) and increased its price target from $15 to $16.
Stifel Nicolaus said, "Ramco-Gershenson's portfolio continues to exceed expectations as the REIT announced a positive fourth quarter of leasing activity and portfolio occupancy should come in at the high end of the 94%-95% occupancy guidance range. Ramco previously released 2013 same-store NOI guidance of 2%-3% as new leases signed in 2012 come online. We expect a few high quality shopping centers will trade in RPT's core Michigan markets, providing positive price comps for Ramco's undervalued portfolio."
Ramco-Gershenson Properties Trust closed at $13.59 on Thursday.
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