Zacks Investment Research downgraded shares of Retail Properties of America, Inc. (NYSE:RPAI) from a buy rating to a hold rating in a report released on Wednesday, October 25th.
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. “
Several other research firms also recently weighed in on RPAI. BidaskClub raised shares of Retail Properties of America from a hold rating to a buy rating in a research report on Wednesday, August 9th. Jefferies Group LLC restated a hold rating and set a $13.00 price target on shares of Retail Properties of America in a report on Tuesday, August 29th. KeyCorp restated a hold rating on shares of Retail Properties of America in a report on Friday, August 25th. Finally, Citigroup Inc. restated a buy rating and set a $15.00 price target (down from $16.00) on shares of Retail Properties of America in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $16.00.
Retail Properties of America (NYSE:RPAI) opened at $12.92 on Wednesday. The stock has a market cap of $2,950.00, a P/E ratio of 12.11 and a beta of 0.48. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. Retail Properties of America has a 52 week low of $11.61 and a 52 week high of $15.81.
Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $130.52 million for the quarter, compared to the consensus estimate of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.61%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.27 earnings per share. research analysts expect that Retail Properties of America will post 1.04 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 27th will be paid a $0.1656 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend is Friday, December 22nd. Retail Properties of America’s dividend payout ratio (DPR) is presently 103.13%.
In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of Retail Properties of America stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $13.59, for a total value of $65,096.10. Following the completion of the sale, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. Profund Advisors LLC bought a new position in Retail Properties of America during the second quarter worth $143,000. Brookstone Capital Management bought a new position in Retail Properties of America during the second quarter worth $146,000. Stratos Wealth Partners LTD. bought a new position in Retail Properties of America during the third quarter worth $148,000. Laurion Capital Management LP bought a new position in Retail Properties of America during the second quarter worth $153,000. Finally, Comerica Bank bought a new position in Retail Properties of America during the first quarter worth $156,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
About Retail Properties of America
Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.
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