Resolution Capital Ltd decreased its position in Retail Properties of America Inc (NYSE:RPAI) by 10.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,660,284 shares of the real estate investment trust’s stock after selling 406,095 shares during the quarter. Retail Properties of America accounts for 1.6% of Resolution Capital Ltd’s portfolio, making the stock its 22nd biggest holding. Resolution Capital Ltd owned approximately 1.67% of Retail Properties of America worth $44,619,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its stake in Retail Properties of America by 67.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,366 shares of the real estate investment trust’s stock worth $132,000 after acquiring an additional 4,166 shares during the last quarter. RFG Advisory Group LLC bought a new position in shares of Retail Properties of America during the 2nd quarter valued at approximately $143,000. Private Advisor Group LLC bought a new position in shares of Retail Properties of America during the 3rd quarter valued at approximately $138,000. ARP Americas LP bought a new position in shares of Retail Properties of America during the 2nd quarter valued at approximately $206,000. Finally, Hartford Investment Management Co. bought a new position in shares of Retail Properties of America during the 2nd quarter valued at approximately $247,000. 81.94% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Gerald M. Gorski sold 3,962 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $12.61, for a total transaction of $49,960.82. Following the completion of the transaction, the director now owns 55,129 shares in the company, valued at approximately $695,176.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by insiders.
Several equities analysts have recently weighed in on the company. Jefferies Financial Group set a $13.00 target price on Retail Properties of America and gave the company a “hold” rating in a research report on Tuesday, July 17th. ValuEngine downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Zacks Investment Research downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Deutsche Bank raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Tuesday, August 28th. Finally, JPMorgan Chase & Co. cut their target price on Retail Properties of America from $13.50 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, September 27th. Two 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’s stock. Retail Properties of America has a consensus rating of “Hold” and a consensus price target of $14.58.
RPAI opened at $12.15 on Tuesday. Retail Properties of America Inc has a 52-week low of $10.84 and a 52-week high of $13.60. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $2.61 billion, a P/E ratio of 11.48 and a beta of 0.19.
Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.19). Retail Properties of America had a net margin of 35.82% and a return on equity of 9.39%. The business had revenue of $119.14 million for the quarter, compared to analysts’ expectations of $118.41 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Retail Properties of America’s revenue was down 8.7% compared to the same quarter last year. As a group, research analysts forecast that Retail Properties of America Inc will post 1.01 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Thursday, December 27th will be issued a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, December 26th. Retail Properties of America’s payout ratio is currently 62.26%.
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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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