Retail Properties of America (RPAI) Given a $14.00 Price Target at Jefferies Group

Jefferies Group set a $14.00 price objective on Retail Properties of America (NYSE:RPAI) in a research report report published on Tuesday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

Several other research firms also recently weighed in on RPAI. ValuEngine downgraded Retail Properties of America from a buy rating to a hold rating in a research report on Friday, February 2nd. BidaskClub downgraded Retail Properties of America from a hold rating to a sell rating in a report on Friday, October 27th. Robert W. Baird restated a buy rating and issued a $18.00 price objective on shares of Retail Properties of America in a report on Wednesday, November 1st. Boenning Scattergood restated a buy rating and issued a $18.50 price objective on shares of Retail Properties of America in a report on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Retail Properties of America from a buy rating to a hold rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $15.93.

Shares of Retail Properties of America (NYSE:RPAI) opened at $11.45 on Tuesday. Retail Properties of America has a 52-week low of $10.94 and a 52-week high of $15.81. The firm has a market capitalization of $2,579.86, a price-to-earnings ratio of 17.62 and a beta of 0.32. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be issued a $0.1656 dividend. The ex-dividend date of this dividend is Monday, March 26th. This represents a $0.66 annualized dividend and a dividend yield of 5.79%. Retail Properties of America’s payout ratio is currently 101.54%.

Retail Properties of America announced that its board has authorized a stock repurchase plan on Thursday, December 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Several hedge funds have recently added to or reduced their stakes in RPAI. Parametric Portfolio Associates LLC raised its holdings in shares of Retail Properties of America by 55.7% in the second quarter. Parametric Portfolio Associates LLC now owns 225,345 shares of the real estate investment trust’s stock valued at $2,751,000 after acquiring an additional 80,576 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Retail Properties of America by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,318,786 shares of the real estate investment trust’s stock valued at $40,524,000 after acquiring an additional 97,216 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Retail Properties of America by 1.1% in the second quarter. HighTower Advisors LLC now owns 22,179 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 248 shares in the last quarter. State Street Corp grew its stake in Retail Properties of America by 1.0% in the second quarter. State Street Corp now owns 7,679,197 shares of the real estate investment trust’s stock valued at $93,762,000 after purchasing an additional 73,268 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Retail Properties of America by 180.2% in the second quarter. Cubist Systematic Strategies LLC now owns 26,141 shares of the real estate investment trust’s stock valued at $319,000 after purchasing an additional 16,811 shares during the last quarter. Hedge funds and other institutional investors own 79.35% of the company’s stock.

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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.

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

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