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07/28/2010
RPT $12

Ramco-Gershenson Properties Trust RPT 2Q 2010 FFO $0.27 v $0.52 DOWN (48%) due to dilution from share offerings

RPT guidance unchanged for 2010 FFO $1.04-$1.12 v $1.98 DOWN (42%)-(43%)

RPT 2Q 2010 same property NOI DOWN (1.3%)
RPT 2Q 2010 occupancy 90.8% UP +0.3% from March 2010
RPT 2Q 2010 average rent decline on new and renewed leases DOWN (2.6%)

RPT a Retail REIT

RPT we rank 3 HOLD

RPT market cap $360 million

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