This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Ramco-Gershenson Properties Trust(NYSE:RPT) announced today that it is providing guidance for Funds from Operations (“FFO”) for the full-year 2013. In addition, it has raised its quarterly common share dividend by 3.0%.
The Company is estimating that its 2013 full-year FFO per diluted common share will be between $1.03 and $1.09.
The 2013 guidance takes into consideration the following key assumptions:
Projected year-end core portfolio leased occupancy of between 94% - 95%.
An anticipated increase in same-center net operating income of 2% - 3%.
The 2013 guidance excludes any shopping center acquisitions or dispositions, transaction costs, potential impairment charges, and gains or losses on extinguishment of debt.
Quarterly Dividend Increase:
Consistent with the Company’s achievements and future prospects, Ramco-Gershenson’s Board of Trustees has approved an increase in its quarterly common share cash dividend of 3.0% to $0.16825 per share, or $0.6730 per share annualized, for the period of September 1, 2012 through December 31, 2012. The Board also approved a fourth quarter 2012 Series D convertible perpetual preferred share dividend of $0.90625 per share, for the same period. The fourth quarter dividends are payable on January 2, 2013 to shareholders of record on December 20, 2012.
About Ramco-Gershenson Properties Trust
Ramco-Gershenson Properties Trust (NYSE:RPT) is a fully integrated, self-administered, publicly-traded real estate investment trust (REIT) based in Farmington Hills, Michigan. The Company’s business is the ownership and management of multi-anchor shopping centers in strategic, quality of life markets throughout the Eastern, Midwestern and Central United States. At September 30, 2012, the Company owned and managed a portfolio of 80 shopping centers and one office building with approximately 15.0 million square feet of gross leasable area owned by the Company or its joint ventures. The properties are located in Michigan, Florida, Ohio, Georgia, Missouri, Colorado, Wisconsin, Illinois, Indiana, New Jersey, Virginia, Maryland, and Tennessee. At September 30, 2012, the Company’s core operating portfolio was 94.4% leased. For additional information regarding Ramco-Gershenson Properties Trust visit the Company's website at
This press release may contain forward-looking statements that represent the Company’s expectations and projections for the future. Management of Ramco-Gershenson believes the expectations reflected in any forward-looking statements made in this press release are based on reasonable assumptions. Certain factors could occur that might cause actual results to vary, including deterioration in national economic conditions, weakening of real estate markets, decreases in the availability of credit, increases in interest rates, adverse changes in the retail industry, our continuing to ability to qualify as a REIT and other factors discussed in the Company’s reports filed with the Securities and Exchange Commission.