Retail Properties of America Inc (RPAI) Position Increased by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in shares of Retail Properties of America Inc (NYSE:RPAI) by 12.6% during the 3rd quarter, Holdings Channel reports. The firm owned 237,256 shares of the real estate investment trust’s stock after purchasing an additional 26,457 shares during the period. Wells Fargo & Company MN’s holdings in Retail Properties of America were worth $3,115,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RPAI. SG Americas Securities LLC grew its position in Retail Properties of America by 3.5% during the 2nd quarter. SG Americas Securities LLC now owns 13,214 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 444 shares during the last quarter. Bank of New York Mellon Corp grew its position in Retail Properties of America by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,555,058 shares of the real estate investment trust’s stock valued at $18,989,000 after purchasing an additional 56,611 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Retail Properties of America by 11.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,662 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 1,740 shares during the last quarter. Swiss National Bank grew its position in Retail Properties of America by 1.7% during the 2nd quarter. Swiss National Bank now owns 396,774 shares of the real estate investment trust’s stock valued at $4,845,000 after purchasing an additional 6,500 shares during the last quarter. Finally, LSV Asset Management grew its position in Retail Properties of America by 81.8% during the 2nd quarter. LSV Asset Management now owns 1,599,700 shares of the real estate investment trust’s stock valued at $19,532,000 after purchasing an additional 719,900 shares during the last quarter. 79.13% of the stock is currently owned by institutional investors.

Shares of Retail Properties of America Inc (RPAI) opened at $12.67 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $2,870.00, a PE ratio of 19.80 and a beta of 0.50. Retail Properties of America Inc has a 1-year low of $11.61 and a 1-year high of $15.81.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. The firm had revenue of $130.52 million for the quarter, compared to the consensus estimate of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.61%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 EPS. sell-side analysts forecast that Retail Properties of America Inc will post 1.05 earnings per share for the current year.

Retail Properties of America declared that its Board of Directors has authorized a stock buyback program on Thursday, December 14th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th were paid a $0.1656 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.23%. The ex-dividend date was Friday, December 22nd. Retail Properties of America’s dividend payout ratio (DPR) is presently 103.13%.

RPAI has been the topic of a number of recent analyst reports. 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 Wednesday, October 11th. BidaskClub downgraded shares of Retail Properties of America from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 16th. Boenning Scattergood reaffirmed a “buy” rating and set a $18.50 price target on shares of Retail Properties of America in a report on Thursday, November 2nd. Robert W. Baird reaffirmed a “buy” rating and set a $18.00 price target on shares of Retail Properties of America in a report on Wednesday, November 1st. Finally, ValuEngine downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.93.

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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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Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

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