Retail Properties of America (RPAI) Upgraded to “Hold” by Zacks Investment Research

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Zacks Investment Research upgraded shares of Retail Properties of America (NYSE:RPAI) from a sell rating to a hold rating in a report released on Friday.

According to Zacks, “Retail Properties of America, Inc. is a real estate investment trust that owns and operates shopping centers in the United States. Its retail-operating portfolio includes power centers, community centers, neighborhood centers, lifestyle centers and single-user retail properties. The Company’s retail properties are primarily located in retail districts. Retail Properties of America, Inc. is headquartered in Oak Brook, IL. “

A number of other equities analysts also recently commented on RPAI. ValuEngine downgraded Retail Properties of America from a hold rating to a sell rating in a research report on Monday, July 16th. Jefferies Financial Group set a $13.00 target price on Retail Properties of America and gave the stock a hold rating in a research note on Tuesday, July 17th. Deutsche Bank raised Retail Properties of America from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Tuesday, August 28th. Finally, JPMorgan Chase & Co. cut their target price on Retail Properties of America from $13.50 to $13.00 and set a neutral rating for the company in a research note on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $14.58.

Retail Properties of America stock traded down $0.03 during trading on Friday, reaching $12.30. 694,771 shares of the company were exchanged, compared to its average volume of 1,925,316. Retail Properties of America has a 52-week low of $10.84 and a 52-week high of $13.60. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 11.60 and a beta of 0.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.19). Retail Properties of America had a return on equity of 9.39% and a net margin of 35.82%. The company had revenue of $119.14 million for the quarter, compared to analysts’ expectations of $118.41 million. During the same quarter in the previous year, the business posted $0.25 EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, analysts predict 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 Thursday, January 10th. Shareholders of record on Thursday, December 27th will be paid a dividend of $0.166 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.66 annualized dividend and a yield of 5.40%. Retail Properties of America’s dividend payout ratio (DPR) is 62.26%.

In other Retail Properties of America news, Director Gerald M. Gorski sold 3,962 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $12.61, for a total transaction of $49,960.82. Following the completion of the sale, the director now owns 55,129 shares of the company’s stock, valued at $695,176.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Retail Properties of America by 1.7% during the third quarter. BlackRock Inc. now owns 16,560,214 shares of the real estate investment trust’s stock worth $201,868,000 after acquiring an additional 277,738 shares during the last quarter. AEW Capital Management L P grew its stake in shares of Retail Properties of America by 2.4% in the second quarter. AEW Capital Management L P now owns 7,323,093 shares of the real estate investment trust’s stock valued at $93,589,000 after buying an additional 174,000 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Retail Properties of America by 7.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,222,590 shares of the real estate investment trust’s stock valued at $66,745,000 after buying an additional 355,986 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Retail Properties of America by 58.2% in the third quarter. JPMorgan Chase & Co. now owns 4,587,848 shares of the real estate investment trust’s stock valued at $55,926,000 after buying an additional 1,687,591 shares in the last quarter. Finally, Resolution Capital Ltd grew its stake in shares of Retail Properties of America by 9.5% in the second quarter. Resolution Capital Ltd now owns 4,066,379 shares of the real estate investment trust’s stock valued at $51,968,000 after buying an additional 351,100 shares in the last quarter. 81.94% of the stock is owned by institutional investors.

Retail Properties of America Company Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of June 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.

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