Retail Properties of America, Inc. (RPAI) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Retail Properties of America, Inc. (NYSE:RPAI) from a hold rating to a buy rating in a research note published on Wednesday morning. The brokerage currently has $15.00 price objective on the real estate investment trust’s stock.

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. “

Other equities analysts also recently issued reports about the company. Citigroup Inc. reiterated a buy rating and issued a $15.00 price target (down from $16.00) on shares of Retail Properties of America in a research note on Monday, July 10th. BidaskClub upgraded Retail Properties of America from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. Jefferies Group LLC reiterated a hold rating and issued a $13.00 price target on shares of Retail Properties of America in a research note on Tuesday, June 20th. Finally, KeyCorp reiterated a hold rating on shares of Retail Properties of America in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $15.10.

Retail Properties of America (RPAI) traded down 0.15% on Wednesday, hitting $13.34. The stock had a trading volume of 2,035,348 shares. The company’s 50-day moving average is $13.30 and its 200-day moving average is $13.15. The stock has a market cap of $3.07 billion, a P/E ratio of 16.89 and a beta of 0.44. Retail Properties of America has a one year low of $11.61 and a one year high of $16.20.

Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Retail Properties of America had a return on equity of 9.20% and a net margin of 34.57%. The business had revenue of $137.34 million for the quarter, compared to analyst estimates of $135.81 million. During the same period in the previous year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts anticipate that Retail Properties of America will post $0.51 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th were paid a $0.1656 dividend. The ex-dividend date of this dividend was Monday, September 25th. This represents a $0.66 dividend on an annualized basis and a yield of 4.97%. Retail Properties of America’s dividend payout ratio (DPR) is 82.50%.

In related news, Director Gerald M. Gorski sold 4,790 shares of Retail Properties of America stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $13.59, for a total value of $65,096.10. Following the completion of the transaction, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of RPAI. BlackRock Inc. boosted its stake in Retail Properties of America by 2,354.6% in the first quarter. BlackRock Inc. now owns 18,340,329 shares of the real estate investment trust’s stock valued at $264,469,000 after acquiring an additional 17,593,152 shares during the period. State Street Corp boosted its stake in Retail Properties of America by 56.2% in the first quarter. State Street Corp now owns 7,605,929 shares of the real estate investment trust’s stock valued at $109,678,000 after acquiring an additional 2,736,360 shares during the period. Numeric Investors LLC boosted its stake in Retail Properties of America by 10,872.3% in the second quarter. Numeric Investors LLC now owns 1,108,199 shares of the real estate investment trust’s stock valued at $13,531,000 after acquiring an additional 1,098,099 shares during the period. Vanguard Group Inc. boosted its stake in Retail Properties of America by 2.6% in the first quarter. Vanguard Group Inc. now owns 37,476,808 shares of the real estate investment trust’s stock valued at $540,416,000 after acquiring an additional 943,974 shares during the period. Finally, Balyasny Asset Management LLC boosted its stake in Retail Properties of America by 135.1% in the second quarter. Balyasny Asset Management LLC now owns 1,493,991 shares of the real estate investment trust’s stock valued at $18,242,000 after acquiring an additional 858,409 shares during the period. Institutional investors own 78.91% of the company’s stock.

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.

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