Zacks Investment Research Lowers Retail Properties of America (RPAI) to Sell

Zacks Investment Research cut shares of Retail Properties of America (NYSE:RPAI) from a hold rating to a sell rating in a research report report published on Wednesday.

According to Zacks, “Retail Properties of America, Inc. is a real estate investment trust that owns and operates shopping centers in the United States. Its retail-operating portfolio includes power centers, community centers, neighborhood centers, lifestyle centers and single-user retail properties. The Company’s retail properties are primarily located in retail districts. Retail Properties of America, Inc. is headquartered in Oak Brook, IL. “

Several other analysts also recently issued reports on RPAI. ValuEngine downgraded Retail Properties of America from a hold rating to a sell rating in a research note on Monday, July 16th. Jefferies Financial Group set a $13.00 target price on Retail Properties of America and gave the company a hold rating in a research note on Tuesday, July 17th. Deutsche Bank upgraded Retail Properties of America from a hold rating to a buy rating and set a $15.00 target price for the company in a research note on Tuesday, August 28th. Finally, JPMorgan Chase & Co. decreased their target price on Retail Properties of America from $13.50 to $13.00 and set a neutral rating for the company in a research note on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $14.58.

Retail Properties of America stock traded down $0.19 during midday trading on Wednesday, reaching $11.87. The company’s stock had a trading volume of 975,078 shares, compared to its average volume of 2,161,739. Retail Properties of America has a fifty-two week low of $10.84 and a fifty-two week high of $13.60.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings results on Tuesday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.19). The firm had revenue of $119.14 million during the quarter, compared to the consensus estimate of $118.41 million. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Thursday, December 27th will be paid a dividend of $0.166 per share. The ex-dividend date is Wednesday, December 26th. This represents a $0.66 annualized dividend and a yield of 5.59%.

In other Retail Properties of America news, Director Gerald M. Gorski sold 3,962 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $12.61, for a total value of $49,960.82. Following the completion of the sale, the director now owns 55,129 shares in the company, valued at approximately $695,176.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. lifted its position in shares of Retail Properties of America by 7.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,222,590 shares of the real estate investment trust’s stock worth $66,745,000 after acquiring an additional 355,986 shares during the period. UBS Group AG raised its holdings in shares of Retail Properties of America by 1,092.2% in the 1st quarter. UBS Group AG now owns 429,798 shares of the real estate investment trust’s stock worth $5,012,000 after buying an additional 393,746 shares in the last quarter. Glen Harbor Capital Management LLC acquired a new position in shares of Retail Properties of America in the 2nd quarter worth approximately $253,000. Point72 Hong Kong Ltd raised its holdings in shares of Retail Properties of America by 707.7% in the 2nd quarter. Point72 Hong Kong Ltd now owns 19,377 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 16,978 shares in the last quarter. Finally, ARP Americas LP acquired a new position in shares of Retail Properties of America in the 2nd quarter worth approximately $206,000. Institutional investors own 82.16% of the company’s stock.

Retail Properties of America Company Profile

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of June 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.

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