Company:RPT Realty
 | |
| Type | Public company |
|---|---|
| NYSE: RPT S&P 600 component | |
| Industry | Real estate investment trust |
| Founded | 1955 |
| Founder | Aaron & William Gershenson |
| Headquarters | New York, NY |
Key people | Brian Harper, CEO |
| Products | Open-air shopping centers |
| Revenue |  $234 million (2019) |
 $91 million (2019) | |
| Total assets | $1.918 billion (2019) |
| Total equity | $848 million (2019) |
Number of employees | 104 (2019) |
| Website | rptrealty |
| Footnotes / references [1] | |
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]
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 associate Mike Ward, took over leadership of the company, with each son responsible for a different division.[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
- ↑ 1.0 1.1 "Ramco-Gershenson Properties Trust 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/842183/000084218320000009/rpt-20191231.htm.
- ↑ 2.0 2.1 2.2 2.3 Frantz, John (October 1, 2000). "Wall Street's well-kept secret". National Real Estate Investor. https://www.nreionline.com/mag/wall-streets-well-kept-secret.
- ↑ "Richard Gershenson Obituary". Detroit News. July 2, 2010. https://www.legacy.com/obituaries/detroitnews/obituary.aspx?n=richard-gershenson&pid=182223508&fhid=16291.
- ↑ "RAMCO-GERSHENSON TO BUY SHOPPING CENTERS IN FLORIDA". The New York Times. November 25, 2004. https://www.nytimes.com/2004/11/25/business/company-news-ramcogershenson-to-buy-shopping-centers-in-florida.html.
- ↑ "Ramco-Gershenson Properties Set to Join S&P SmallCap 600" (Press release). PR Newswire. May 5, 2017.
- ↑ "Ramco-Gershenson Properties Trust Unveils New Corporate Brand" (Press release). Globe Newswire. May 2, 2018.
- ↑ "RAMCO Properties Announces Name Change to RPT Realty" (Press release). Globe Newswire. October 31, 2018.
External links
- Business data for RPT Realty:
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