Retail Properties of America (NYSE:RPAI) Rating Increased to Buy at Zacks Investment Research

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Retail Properties of America (NYSE:RPAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The brokerage currently has a $16.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.19% from the stock’s current price.

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. “

Other research analysts have also issued reports about the company. ValuEngine raised Retail Properties of America from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. Compass Point began coverage on Retail Properties of America in a research report on Thursday, August 15th. They set a “neutral” rating and a $12.00 price objective on the stock.

Shares of RPAI opened at $13.89 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.89 and a current ratio of 0.89. The company has a 50 day moving average price of $13.76 and a 200-day moving average price of $12.39. Retail Properties of America has a fifty-two week low of $10.57 and a fifty-two week high of $14.30. The stock has a market capitalization of $2.97 billion, a PE ratio of 13.49, a PEG ratio of 9.41 and a beta of 0.53.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $119.71 million for the quarter, compared to analyst estimates of $118.71 million. Retail Properties of America had a net margin of 5.91% and a return on equity of 2.17%. Retail Properties of America’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. Equities research analysts forecast that Retail Properties of America will post 1.06 EPS for the current year.

Several institutional investors have recently modified their holdings of the company. Marshall Wace North America L.P. acquired a new position in Retail Properties of America during the 1st quarter valued at about $33,000. TRUE Private Wealth Advisors acquired a new position in shares of Retail Properties of America during the second quarter valued at about $50,000. Advantage Investment Management LLC raised its position in shares of Retail Properties of America by 34.1% in the 2nd quarter. Advantage Investment Management LLC now owns 4,970 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 1,264 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Retail Properties of America in the 2nd quarter valued at approximately $62,000. Finally, Point72 Hong Kong Ltd boosted its stake in Retail Properties of America by 14.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 7,358 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 951 shares in the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

About Retail Properties of America

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 December 31, 2018, the Company owned 105 retail operating properties in the United States representing 20.1 million square feet.

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