Retail Properties of America Inc (NYSE:RPAI) has been assigned a consensus rating of “Hold” from the eleven brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.07.
A number of brokerages recently commented on RPAI. ValuEngine lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Jefferies Group set a $14.00 price objective on Retail Properties of America and gave the stock a “hold” rating in a research note on Friday, December 15th. JPMorgan Chase & Co. upgraded Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Friday, December 15th. KeyCorp upgraded Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Monday, November 20th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $18.50 price objective on shares of Retail Properties of America in a research note on Thursday, November 2nd.
Hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its holdings in Retail Properties of America by 180.2% in the second quarter. Cubist Systematic Strategies LLC now owns 26,141 shares of the real estate investment trust’s stock valued at $319,000 after acquiring an additional 16,811 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Retail Properties of America by 3.8% in the second 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 acquiring an additional 56,611 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Retail Properties of America by 31.1% in the third quarter. Macquarie Group Ltd. now owns 567,513 shares of the real estate investment trust’s stock valued at $7,451,000 after acquiring an additional 134,549 shares during the last quarter. Legal & General Group Plc boosted its holdings in Retail Properties of America by 9.0% in the third quarter. Legal & General Group Plc now owns 790,927 shares of the real estate investment trust’s stock valued at $10,386,000 after acquiring an additional 65,244 shares during the last quarter. Finally, Clinton Group Inc. acquired a new position in Retail Properties of America in the second quarter valued at about $252,000. Institutional investors own 79.13% of the company’s stock.
Retail Properties of America (NYSE:RPAI) last issued its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The business had revenue of $130.52 million during the quarter, compared to analyst estimates of $132.45 million. Retail Properties of America had a return on equity of 7.61% and a net margin of 28.84%. Retail Properties of America’s revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.27 earnings per share. research analysts predict that Retail Properties of America will post 1.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th will be issued a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Friday, December 22nd. Retail Properties of America’s payout ratio is presently 101.54%.
Retail Properties of America announced that its Board of Directors has approved a stock repurchase program on Thursday, December 14th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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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