Forsta AP Fonden Has $1.30 Million Stake in Retail Properties of America Inc (RPAI)

Forsta AP Fonden trimmed its stake in shares of Retail Properties of America Inc (NYSE:RPAI) by 28.4% in the fourth quarter, Holdings Channel reports. The fund owned 96,600 shares of the real estate investment trust’s stock after selling 38,400 shares during the quarter. Forsta AP Fonden’s holdings in Retail Properties of America were worth $1,298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vident Investment Advisory LLC bought a new stake in Retail Properties of America in the third quarter worth approximately $135,000. Stratos Wealth Partners LTD. bought a new stake in Retail Properties of America in the third quarter worth approximately $148,000. Public Employees Retirement Association of Colorado increased its holdings in Retail Properties of America by 60.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,668 shares of the real estate investment trust’s stock worth $157,000 after purchasing an additional 4,403 shares in the last quarter. Cetera Investment Advisers bought a new stake in Retail Properties of America in the second quarter worth approximately $179,000. Finally, Wolverine Trading LLC bought a new stake in Retail Properties of America in the third quarter worth approximately $186,000. Institutional investors own 79.35% of the company’s stock.

Shares of Retail Properties of America Inc (NYSE:RPAI) opened at $12.30 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.81 and a debt-to-equity ratio of 0.93. Retail Properties of America Inc has a one year low of $10.94 and a one year high of $15.81. The company has a market capitalization of $2,793.33, a P/E ratio of 11.60 and a beta of 0.32.

Retail Properties of America announced that its Board of Directors has approved a share buyback 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 buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 27th will be paid a $0.1656 dividend. The ex-dividend date is Monday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.39%. Retail Properties of America’s dividend payout ratio (DPR) is presently 63.46%.

A number of equities research analysts have weighed in on the company. ValuEngine downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Jefferies Group set a $14.00 target price on Retail Properties of America and gave the stock a “hold” rating in a report on Friday, December 15th. KeyCorp upgraded Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 target price for the company in a report on Monday, November 20th. JPMorgan Chase & Co. upgraded Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 target price for the company in a report on Friday, December 15th. Finally, Zacks Investment Research downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.00.

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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.

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

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