Retail Properties of America (RPAI) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Retail Properties of America (NYSE:RPAI) from a sell rating to a hold rating in a research note released on Saturday.

A number of other equities analysts have also recently commented on RPAI. Zacks Investment Research cut Retail Properties of America from a hold rating to a sell rating in a report on Friday, November 23rd. Citigroup set a $15.00 target price on Retail Properties of America and gave the stock a buy rating in a report on Tuesday, November 20th. Deutsche Bank upgraded Retail Properties of America from a hold rating to a buy rating and set a $15.00 target price for the company in a report on Tuesday, August 28th. Finally, JPMorgan Chase & Co. dropped their target price on Retail Properties of America from $13.50 to $13.00 and set a neutral rating for the company in a report on Thursday, September 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Retail Properties of America presently has a consensus rating of Hold and an average target price of $14.40.

NYSE RPAI opened at $12.59 on Friday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 11.88 and a beta of 0.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.92. Retail Properties of America has a 1-year low of $10.84 and a 1-year high of $13.60.

Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.19). The company had revenue of $119.14 million during the quarter, compared to analysts’ expectations of $118.41 million. Retail Properties of America had a return on equity of 9.39% and a net margin of 35.82%. Retail Properties of America’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 EPS. As a group, research analysts forecast that Retail Properties of America will post 1.01 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Thursday, December 27th will be paid a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Wednesday, December 26th. Retail Properties of America’s dividend payout ratio is currently 62.26%.

In related news, Director Gerald M. Gorski sold 3,962 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 55,129 shares of the company’s stock, valued at approximately $695,176.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of RPAI. SJA Financial Advisory LLC bought a new stake in Retail Properties of America during the 3rd quarter valued at $122,000. MML Investors Services LLC bought a new stake in Retail Properties of America during the 3rd quarter valued at $129,000. Commonwealth Bank of Australia raised its position in Retail Properties of America by 67.2% during the 2nd quarter. Commonwealth Bank of Australia now owns 10,366 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 4,166 shares in the last quarter. Private Advisor Group LLC bought a new stake in Retail Properties of America during the 3rd quarter valued at $138,000. Finally, Redpoint Investment Management Pty Ltd bought a new stake in Retail Properties of America during the 3rd quarter valued at $202,000. 85.33% of the stock is owned by hedge funds and other institutional investors.

About Retail Properties of America

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 September 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.

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Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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