Retail Properties of America Inc (NYSE:RPAI) – Equities research analysts at KeyCorp dropped their FY2018 earnings per share (EPS) estimates for shares of Retail Properties of America in a research note issued on Thursday. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings of $1.02 per share for the year, down from their prior estimate of $1.06. KeyCorp currently has a “Overweight” rating and a $16.00 price target on the stock.
A number of other equities research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group set a $14.00 price target on shares of Retail Properties of America and gave the stock a “hold” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. upgraded shares of Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price target on the stock in a research note on Friday, December 15th. Boenning Scattergood reiterated a “buy” rating and set a $18.50 price target on shares of Retail Properties of America in a research note on Thursday, November 2nd. Finally, Robert W. Baird reiterated a “buy” rating and set a $18.00 price target on shares of Retail Properties of America in a research note on Wednesday, November 1st. One 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. The company presently has a consensus rating of “Hold” and a consensus target price of $15.93.
Retail Properties of America (NYSE RPAI) traded up $0.05 on Monday, reaching $12.15. 2,820,125 shares of the company’s stock were exchanged, compared to its average volume of 1,935,809. Retail Properties of America 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 capitalization of $2,811.50, a P/E ratio of 18.69 and a beta of 0.50.
Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 business had revenue of $130.52 million for the quarter, compared to analyst estimates of $132.45 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Retail Properties of America’s revenue was down 9.7% compared to the same quarter last year.
Large investors have recently modified their holdings of the company. Vident Investment Advisory LLC acquired a new stake in shares of Retail Properties of America in the 3rd quarter valued at $135,000. Profund Advisors LLC acquired a new stake in shares of Retail Properties of America in the 2nd quarter valued at $143,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Retail Properties of America in the 3rd quarter valued at $148,000. Laurion Capital Management LP acquired a new stake in shares of Retail Properties of America in the 2nd quarter valued at $153,000. Finally, SG Americas Securities LLC boosted its stake in shares of Retail Properties of America by 3.5% in the 2nd quarter. SG Americas Securities LLC now owns 13,214 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 444 shares in the last quarter. Institutional investors own 79.13% of the company’s stock.
Retail Properties of America announced that its Board of Directors has approved a stock buyback plan on Thursday, December 14th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th were paid a $0.1656 dividend. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $0.66 annualized dividend and a dividend yield of 5.45%. Retail Properties of America’s dividend payout ratio is presently 101.54%.
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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.
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