1,325,000 Shares in Retail Properties of America Inc (NYSE:RPAI) Acquired by Zimmer Partners LP

Zimmer Partners LP purchased a new position in shares of Retail Properties of America Inc (NYSE:RPAI) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,325,000 shares of the real estate investment trust’s stock, valued at approximately $17,808,000. Zimmer Partners LP owned 0.58% of Retail Properties of America as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Retail Properties of America by 91.2% in the 4th quarter. Millennium Management LLC now owns 3,421,897 shares of the real estate investment trust’s stock valued at $45,990,000 after acquiring an additional 1,632,224 shares during the period. Renaissance Technologies LLC raised its stake in shares of Retail Properties of America by 39.4% in the 4th quarter. Renaissance Technologies LLC now owns 5,154,055 shares of the real estate investment trust’s stock valued at $69,270,000 after acquiring an additional 1,455,955 shares during the period. Two Sigma Investments LP purchased a new position in shares of Retail Properties of America in the 4th quarter valued at $19,373,000. American Century Companies Inc. purchased a new position in shares of Retail Properties of America in the 4th quarter valued at $18,630,000. Finally, Barings LLC purchased a new position in shares of Retail Properties of America in the 3rd quarter valued at $16,933,000. 81.12% of the stock is currently owned by institutional investors.

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A number of brokerages have recently commented on RPAI. Zacks Investment Research downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. JPMorgan Chase raised shares of Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Friday, December 15th. Jefferies Group set a $14.00 target price on shares of Retail Properties of America and gave the company a “hold” rating in a research note on Tuesday, February 13th. ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Retail Properties of America presently has a consensus rating of “Hold” and a consensus target price of $15.79.

Retail Properties of America stock opened at $11.76 on Friday. Retail Properties of America Inc has a 12-month low of $10.94 and a 12-month high of $14.70. The firm has a market cap of $2,644.07, a P/E ratio of 11.09 and a beta of 0.31. 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 (NYSE:RPAI) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping 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 expect that Retail Properties of America Inc will post 1.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Tuesday, March 27th will be paid a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a yield of 5.63%. The ex-dividend date of this dividend is Monday, March 26th. Retail Properties of America’s dividend payout ratio (DPR) is 62.26%.

Retail Properties of America declared that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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.

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

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