California Public Employees Retirement System Increases Position in Retail Properties of America Inc (RPAI)

California Public Employees Retirement System lifted its position in shares of Retail Properties of America Inc (NYSE:RPAI) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,090 shares of the real estate investment trust’s stock after acquiring an additional 51,190 shares during the quarter. California Public Employees Retirement System owned 0.32% of Retail Properties of America worth $9,468,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC lifted its stake in Retail Properties of America by 180.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,141 shares of the real estate investment trust’s stock worth $319,000 after purchasing an additional 16,811 shares in the last quarter. Legal & General Group Plc lifted its stake in Retail Properties of America by 3.7% in the 2nd quarter. Legal & General Group Plc now owns 725,683 shares of the real estate investment trust’s stock worth $8,861,000 after purchasing an additional 25,758 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Retail Properties of America by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,555,058 shares of the real estate investment trust’s stock worth $18,989,000 after purchasing an additional 56,611 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Retail Properties of America by 31.1% in the 3rd quarter. Macquarie Group Ltd. now owns 567,513 shares of the real estate investment trust’s stock worth $7,451,000 after purchasing an additional 134,549 shares in the last quarter. Finally, Clinton Group Inc. purchased a new position in Retail Properties of America in the 2nd quarter worth approximately $252,000. 79.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of Retail Properties of America Inc (NYSE:RPAI) opened at $12.38 on Friday. Retail Properties of America Inc has a 1-year low of $11.61 and a 1-year high of $15.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $2,810.00, a P/E ratio of 19.34 and a beta of 0.50.

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

Retail Properties of America declared that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Wednesday, December 27th were given a $0.1656 dividend. The ex-dividend date was Friday, December 22nd. This represents a $0.66 annualized dividend and a yield of 5.35%. Retail Properties of America’s dividend payout ratio is presently 103.13%.

A number of analysts have recently issued reports on RPAI shares. BidaskClub downgraded shares of Retail Properties of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 16th. ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Wednesday, October 11th. Jefferies Group set a $14.00 price target on shares of Retail Properties of America and gave the stock a “hold” rating in a report on Friday, December 15th. Finally, KeyCorp upgraded shares of Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price target for the company in a report on Monday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Retail Properties of America has an average rating of “Hold” and an average target price of $15.93.

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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.

Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

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