Ramco-Gershenson Properties Trust Goes Negative

Ramco-Gershenson Properties Trust (NYSE: RPT  ) reported earnings on Feb. 14. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ramco-Gershenson Properties Trust beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share contracted to a loss.

Gross margins dropped, operating margins grew, net margins dropped.

Revenue details
Ramco-Gershenson Properties Trust tallied revenue of $32.0 million. The four analysts polled by S&P Capital IQ hoped for revenue of $29.6 million on the same basis. GAAP reported sales were 4.1% higher than the prior-year quarter's $29.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $0.09. The one earnings estimate compiled by S&P Capital IQ predicted $0.07 per share on the same basis. GAAP EPS were -$0.99 for Q3 against $0.23 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 66.5%, 210 basis points worse than the prior-year quarter. Operating margin was 21.2%, 370 basis points better than the prior-year quarter. Net margin was -122.2%, 15,070 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $30.6 million. On the bottom line, the average EPS estimate is -$0.28.

Next year's average estimate for revenue is $120.8 million. The average EPS estimate is -$0.28.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 45 members out of 53 rating the stock outperform, and eight members rating it underperform. Among 24 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 23 give Ramco-Gershenson Properties Trust a green thumbs-up, and one gives it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ramco-Gershenson Properties Trust is hold, with an average price target of $11.71.

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