UPDATE: JP Morgan Upgraded Ramco-Gershenson Properties Trust to Neutral on Deleveraging, Earnings Turnaround
JP Morgan upgraded Ramco-Gershenson Properties Trust (NYSE: RPT) from Underweight to Neutral and raised the price target from $13.00 to $14.50.
JP Morgan commented, "The stock trades at one of the highest implied cap rates in the REIT space and offers an attractive dividend yield. We think the company has done a good job on the deleveraging from and we look for future earnings growth to be more consistently positive going forward than it has been in recent years. Additionally, we think that further recycling of capital out of its two large markets could bee seen by the market positively."
Ramco-Gershenson Properties Trust closed at $14.22 on Tuesday.
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