Retail Properties of America, Inc. (NYSE:RPAI) posted its earnings results on Tuesday. The real estate investment trust reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25, Bloomberg Earnings reports. The business had revenue of $130.52 million for the quarter, compared to analysts’ expectations of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.54%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Retail Properties of America updated its FY17 guidance to $1.03-1.05 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 27th will be given a dividend of $0.1656 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $0.66 annualized dividend and a yield of 5.42%. Retail Properties of America’s payout ratio is currently 101.54%.
RPAI has been the topic of several research analyst reports. Boenning Scattergood reaffirmed a “buy” rating on shares of Retail Properties of America in a research note on Thursday. Robert W. Baird reaffirmed a “buy” rating and set a $18.00 price objective on shares of Retail Properties of America in a research note on Wednesday. Zacks Investment Research cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Citigroup Inc. reaffirmed a “buy” rating and set a $15.00 price objective (down from $16.00) on shares of Retail Properties of America in a research note on Monday, July 10th. Finally, BidaskClub cut shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.58.
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In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of the 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 sale, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.41% of the stock is currently owned by insiders.
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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