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January 22, 2014
08:47 EDTRPTRamco-Gershenson provides Q4, year-end leasing activity
Ramco-Gershenson Properties Trust announced that during Q4 the company signed 61 leases totaling 347,157 square feet at an average base rent of $15.43 per square foot and a comparable average leasing spread of 7.6%. Included in this activity was the signing of two strategic anchor leases for properties undergoing retenanting and/or redevelopment. For the year, the company signed 338 leases totaling 1.69M square feet at an average base rent of $14.04 per square foot and a comparable average leasing spread of 8.2%. As a result of its leasing efforts in 2013, the company's core portfolio leased occupancy increased to 96% and its core portfolio average base rent grew to $12.35 per square foot, which compares favorably to a core portfolio leased occupancy of 94.6% and a core portfolio average base rent of $11.54 per square foot at the end of 2012.
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July 22, 2014
16:08 EDTRPTRamco-Gershenson acquires two shopping centers for $150M
Ramco-Gershenson Properties Trust announced that it has acquired two strategic, multi-anchored community shopping centers in Minneapolis-St. Paul, Minnesota and Cincinnati, Ohio for approximately $150M. The acquisitions were financed with $58.6M of assumed mortgage debt, $9.9M in disposition proceeds, $60.0M in borrowings under the Company's revolving line of credit, and $21.5M in cash. The Company also announced that in the 1H of FY14 it raised approximately $50M in net cash proceeds by issuing 3.1M common shares through its at-the-market equity program.
16:07 EDTRPTRamco-Gershenson raises FY14 FFO view to $1.22-$1.26 from $1.20-$1.26
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16:06 EDTRPTRamco-Gershenson reports Q2 FFO 31c, consensus 30c
Reports Q2 revenue $49.93M, consensus $49.62M.

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