RPT Realty

RPT Realty, formerly known as RAMCO Properties Trust and Ramco-Gershenson Properties Trust, is a publicly traded real estate investment trust that owns and operates open-air shopping centers. As of August 4, 2021, the company owned 50 shopping centers comprising 12.6 million square feet.[1]

RPT Realty
TypePublic company
NYSE: RPT
S&P 600 component
IndustryReal estate investment trust
Founded1975 (1975)
FounderDennis Gershenson, Michael Ward, Joel Gershenson, Richard Gerhsenson and Bruce Gershenson
HeadquartersNew York, NY
Key people
 Brian Harper, CEO
ProductsOpen-air shopping centers
RevenueDecrease $234 million (2019)
Increase $91 million (2019)
Total assetsDecrease $1.918 billion (2019)
Total equityIncrease $848 million (2019)
Number of employees
104 (2019)
Websiterptrealty.com
Footnotes / references
[1]

History

In 1955, Aaron & William Gershenson founded A & W Management Company.[2]

In 1975, William Gershenson's four sons, Joel, Dennis, Richard, and Bruce Alan, along with Mike Ward, founded Ramco Gershenson, with each partner responsible for a different division of the Company.[2][3] In the late 1970s and early 1980s, the company developed 35 Kmart stores.[2]

In 1996, the company merged with RPS Realty Trust and became a public company via a reverse merger, changing its name to Ramco-Gershenson Properties Trust.[2]

In 2004, the company acquired 7 properties for $138.3 million.[4]

In 2017, the company was added to the S&P 600.[5]

On May 2, 2018, the company changed its name to RAMCO.[6]

On October 31, 2018, the company changed its name to RPT Realty.[7]


References
  1. "Ramco-Gershenson Properties Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. Frantz, John (October 1, 2000). "Wall Street's well-kept secret". National Real Estate Investor.
  3. "Richard Gershenson Obituary". Detroit News. July 2, 2010.
  4. "RAMCO-GERSHENSON TO BUY SHOPPING CENTERS IN FLORIDA". The New York Times. November 25, 2004.
  5. "Ramco-Gershenson Properties Set to Join S&P SmallCap 600" (Press release). PR Newswire. May 5, 2017.
  6. "Ramco-Gershenson Properties Trust Unveils New Corporate Brand" (Press release). Globe Newswire. May 2, 2018.
  7. "RAMCO Properties Announces Name Change to RPT Realty" (Press release). Globe Newswire. October 31, 2018.
  • Business data for RPT Realty:
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