Retail Properties of America Inc (RPAI) Short Interest Update

Retail Properties of America Inc (NYSE:RPAI) was the target of a large decline in short interest during the month of April. As of April 13th, there was short interest totalling 2,208,161 shares, a decline of 46.3% from the March 30th total of 4,111,419 shares. Based on an average daily volume of 2,171,870 shares, the short-interest ratio is currently 1.0 days. Approximately 1.0% of the company’s stock are sold short.

Several research firms have recently issued reports on RPAI. Boenning Scattergood set a $16.00 price objective on shares of Retail Properties of America and gave the stock a “buy” rating in a research report on Thursday, May 3rd. ValuEngine cut shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Jefferies Group set a $13.00 price target on shares of Retail Properties of America and gave the company a “hold” rating in a research report on Tuesday, February 27th. Finally, Citigroup reduced their price target on shares of Retail Properties of America from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $15.36.

Shares of NYSE:RPAI traded down $0.02 on Wednesday, reaching $11.20. The company’s stock had a trading volume of 1,037,800 shares, compared to its average volume of 2,014,339. Retail Properties of America has a 52-week low of $11.22 and a 52-week high of $11.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 11.10 and a beta of 0.30.

Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.23. Retail Properties of America had a net margin of 58.23% and a return on equity of 15.25%. The business had revenue of $126.59 million during the quarter, compared to analysts’ expectations of $126.72 million. research analysts forecast that Retail Properties of America will post 1.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 10th. Stockholders of record on Tuesday, June 26th will be issued a $0.166 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.93%. This is a boost from Retail Properties of America’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, June 25th. Retail Properties of America’s dividend payout ratio is presently 62.26%.

Several large investors have recently made changes to their positions in RPAI. Resolution Capital Ltd purchased a new stake in shares of Retail Properties of America in the first quarter valued at about $43,320,000. Franklin Resources Inc. increased its stake in shares of Retail Properties of America by 315.9% during the first quarter. Franklin Resources Inc. now owns 3,229,647 shares of the real estate investment trust’s stock worth $37,657,000 after acquiring an additional 2,453,147 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Retail Properties of America by 2,269.4% during the first quarter. Westwood Holdings Group Inc. now owns 2,164,171 shares of the real estate investment trust’s stock worth $25,235,000 after acquiring an additional 2,072,834 shares during the period. Millennium Management LLC increased its stake in shares of Retail Properties of America by 91.2% during the fourth quarter. Millennium Management LLC now owns 3,421,897 shares of the real estate investment trust’s stock worth $45,990,000 after acquiring an additional 1,632,224 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Retail Properties of America by 39.4% during the fourth quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock worth $69,270,000 after acquiring an additional 1,455,955 shares during the period. 79.45% of the stock is owned by institutional investors and hedge funds.

Retail Properties of America Company Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located shopping centers in the United States. As of December 31, 2017, the Company owned 112 retail operating properties representing 20.3 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.

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