Two Sigma Investments LP Takes $19.37 Million Position in Retail Properties of America Inc (NYSE:RPAI)

Two Sigma Investments LP purchased a new position in Retail Properties of America Inc (NYSE:RPAI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,441,423 shares of the real estate investment trust’s stock, valued at approximately $19,373,000. Two Sigma Investments LP owned approximately 0.63% of Retail Properties of America as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RPAI. AEW Capital Management L P raised its holdings in shares of Retail Properties of America by 5.8% in the fourth quarter. AEW Capital Management L P now owns 6,631,593 shares of the real estate investment trust’s stock valued at $89,129,000 after buying an additional 365,800 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Retail Properties of America by 5.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 5,278,371 shares of the real estate investment trust’s stock worth $70,942,000 after purchasing an additional 268,343 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Retail Properties of America by 39.4% during the fourth quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock worth $69,270,000 after purchasing an additional 1,455,955 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Retail Properties of America by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 3,384,350 shares of the real estate investment trust’s stock worth $44,437,000 after purchasing an additional 65,564 shares in the last quarter. Finally, Heitman Real Estate Securities LLC raised its holdings in Retail Properties of America by 2.0% during the fourth quarter. Heitman Real Estate Securities LLC now owns 3,100,051 shares of the real estate investment trust’s stock worth $41,665,000 after purchasing an additional 60,512 shares in the last quarter. Hedge funds and other institutional investors own 81.12% of the company’s stock.

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Several research analysts have weighed in on RPAI shares. Zacks Investment Research lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. 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. Citigroup cut their target price on shares of Retail Properties of America from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Wednesday, February 21st. Finally, JPMorgan Chase raised shares of Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price target for the company in a report on Friday, December 15th. One investment 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’s stock. Retail Properties of America currently has a consensus rating of “Hold” and an average target price of $15.79.

Shares of NYSE RPAI traded down $0.10 during midday trading on Friday, hitting $11.76. The company’s stock had a trading volume of 1,989,367 shares, compared to its average volume of 2,178,125. Retail Properties of America Inc has a 1-year low of $10.94 and a 1-year high of $14.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $2,602.38, a PE ratio of 11.09 and a beta of 0.31.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.23. Retail Properties of America had a net margin of 46.73% and a return on equity of 12.36%. The firm had revenue of $126.59 million for the quarter, compared to the consensus estimate of $126.72 million. equities analysts forecast that Retail Properties of America Inc will post 1.01 earnings per share for the current year.

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.63%. Retail Properties of America’s payout ratio is currently 62.26%.

Retail Properties of America declared that its board has authorized a stock repurchase program 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 purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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Retail Properties of America 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.

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

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