$119.88 Million in Sales Expected for Retail Properties of America Inc (RPAI) This Quarter

Analysts expect Retail Properties of America Inc (NYSE:RPAI) to post sales of $119.88 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Retail Properties of America’s earnings, with estimates ranging from $114.55 million to $124.13 million. Retail Properties of America reported sales of $143.69 million in the same quarter last year, which would suggest a negative year over year growth rate of 16.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 1st.

According to Zacks, analysts expect that Retail Properties of America will report full-year sales of $119.88 million for the current financial year, with estimates ranging from $442.92 million to $535.83 million. For the next financial year, analysts forecast that the firm will report sales of $508.59 million per share, with estimates ranging from $445.86 million to $544.74 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Retail Properties of America.

A number of brokerages have weighed in on RPAI. Zacks Investment Research downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, February 15th. ValuEngine downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. KeyCorp upgraded Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a report on Monday, November 20th. Citigroup reduced their price objective on Retail Properties of America from $15.00 to $14.50 and set a “buy” rating for the company in a report on Wednesday. Finally, Boenning Scattergood set a $19.00 price objective on Retail Properties of America and gave the stock a “buy” rating in a report on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.93.

Retail Properties of America (NYSE:RPAI) opened at $12.05 on Friday. The firm has a market capitalization of $2,779.70, a P/E ratio of 11.59 and a beta of 0.32. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93. Retail Properties of America has a 12-month low of $10.94 and a 12-month high of $15.81.

Retail Properties of America announced that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Tuesday, March 27th will be issued a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Monday, March 26th. Retail Properties of America’s dividend payout ratio is presently 63.46%.

Several large investors have recently modified their holdings of RPAI. Parametric Portfolio Associates LLC boosted its holdings in shares of Retail Properties of America by 55.7% during the second quarter. Parametric Portfolio Associates LLC now owns 225,345 shares of the real estate investment trust’s stock worth $2,751,000 after acquiring an additional 80,576 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Retail Properties of America by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 3,318,786 shares of the real estate investment trust’s stock worth $40,524,000 after acquiring an additional 97,216 shares during the period. State Street Corp boosted its holdings in shares of Retail Properties of America by 1.0% during the second quarter. State Street Corp now owns 7,679,197 shares of the real estate investment trust’s stock worth $93,762,000 after acquiring an additional 73,268 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of 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 buying an additional 16,811 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Retail Properties of America by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,224 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,079 shares during the period. Institutional investors own 76.66% 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.

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Earnings History and Estimates for Retail Properties of America (NYSE:RPAI)

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