Retail Properties of America (RPAI) Downgraded to Hold at ValuEngine

Retail Properties of America (NYSE:RPAI) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Sunday, December 31st.

Several other brokerages have also recently issued reports on RPAI. Jefferies Group set a $14.00 price objective on shares of Retail Properties of America and gave the company a “hold” rating in a research note on Friday, December 15th. Zacks Investment Research raised shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Wednesday, October 11th. BidaskClub cut shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Robert W. Baird reissued a “buy” rating and issued a $18.00 price objective on shares of Retail Properties of America in a research note on Wednesday, November 1st. Finally, Boenning Scattergood reissued a “buy” rating and issued a $18.50 price objective on shares of Retail Properties of America in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.93.

Shares of Retail Properties of America (NYSE:RPAI) opened at $12.85 on Friday. Retail Properties of America has a 12-month low of $11.61 and a 12-month high of $15.81. The company has a market cap of $2,961.38, a price-to-earnings ratio of 19.77 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.61%. Retail Properties of America’s revenue was down 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS. equities analysts forecast that Retail Properties of America will post 1.05 earnings per share for the current year.

Retail Properties of America declared that its board has authorized a share buyback program on Thursday, December 14th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Large investors have recently bought and sold shares of the company. State Street Corp grew its stake in Retail Properties of America by 1.0% in the 2nd quarter. State Street Corp now owns 7,679,197 shares of the real estate investment trust’s stock valued at $93,762,000 after acquiring an additional 73,268 shares during the last quarter. AEW Capital Management L P grew its stake in Retail Properties of America by 1.3% in the 3rd quarter. AEW Capital Management L P now owns 6,265,793 shares of the real estate investment trust’s stock valued at $82,270,000 after acquiring an additional 78,700 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Retail Properties of America by 5.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 5,010,028 shares of the real estate investment trust’s stock valued at $65,782,000 after acquiring an additional 271,866 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Retail Properties of America by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,384,350 shares of the real estate investment trust’s stock valued at $44,437,000 after acquiring an additional 65,564 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Retail Properties of America by 9.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,266,900 shares of the real estate investment trust’s stock valued at $29,767,000 after acquiring an additional 197,343 shares during the last quarter. 79.13% of the stock is currently owned by institutional investors and hedge funds.

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Retail Properties of America Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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