Ramco-Gershenson Properties lower after stock sale

|About: Ramco Gershenson Propert... (RPT)|By:, SA News Editor

Ramco-Gershenson Properties Trust (RPT -1.4%) prices a 6M share secondary offering for expected gross proceeds of $98.7M ($16.45 per share). The underwriter greenshoe is for another 900K shares.

Among the reasons for the capital raise is the purchase of Buttermilk Towne Center near Cincinnati.