BidaskClub cut shares of Retail Properties of America, Inc. (NYSE:RPAI) from a strong-buy rating to a buy rating in a report published on Saturday morning.
Several other equities analysts have also recently commented on the stock. Jefferies Group LLC upped their target price on shares of Retail Properties of America to $16.00 and gave the company a hold rating in a research note on Monday, June 5th. ValuEngine lowered shares of Retail Properties of America from a buy rating to a hold rating in a report on Friday, June 2nd. Citigroup Inc. reissued a buy rating and issued a $15.00 price target (down previously from $16.00) on shares of Retail Properties of America in a report on Monday, July 10th. Zacks Investment Research raised shares of Retail Properties of America from a hold rating to a buy rating and set a $15.00 price target on the stock in a report on Thursday, August 31st. Finally, KeyCorp reissued a hold rating on shares of Retail Properties of America in a report on Friday, August 25th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Retail Properties of America presently has an average rating of Hold and an average target price of $15.75.
Retail Properties of America (NYSE RPAI) traded up 0.15% on Friday, hitting $13.65. 3,759,268 shares of the stock traded hands. The stock has a 50-day moving average of $13.35 and a 200-day moving average of $13.35. Retail Properties of America has a 12-month low of $11.61 and a 12-month high of $17.35. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 17.28 and a beta of 0.44.
Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The firm had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The business’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Analysts forecast that Retail Properties of America will post $0.53 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be issued a $0.1656 dividend. This represents a $0.66 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend is Monday, September 25th. Retail Properties of America’s dividend payout ratio (DPR) is presently 82.50%.
In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $13.59, for a total value of $65,096.10. Following the sale, the director now owns 46,907 shares of the company’s stock, valued at approximately $637,466.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RPAI. Profund Advisors LLC bought a new stake in Retail Properties of America in the 2nd quarter valued at $143,000. Brookstone Capital Management bought a new stake in shares of Retail Properties of America in the 2nd quarter worth about $146,000. Laurion Capital Management LP bought a new stake in shares of Retail Properties of America in the 2nd quarter worth about $153,000. Comerica Bank bought a new stake in shares of Retail Properties of America in the 1st quarter worth about $156,000. Finally, SG Americas Securities LLC grew its holdings in shares of Retail Properties of America by 3.5% in the 2nd quarter. SG Americas Securities LLC now owns 13,214 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 444 shares during the last quarter. 78.99% of the stock is currently owned by hedge funds and other institutional investors.
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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