Retail Properties of America, Inc. (RPAI) Stock Rating Upgraded 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 report sent to investors on Wednesday morning. They currently have $15.00 target price 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. “

Several other research analysts have also weighed in on RPAI. BidaskClub upgraded Retail Properties of America from a hold rating to a buy rating in a research report on Wednesday, August 9th. KeyCorp reiterated a hold rating on shares of Retail Properties of America in a research report on Friday, August 25th. Jefferies Group LLC reiterated a hold rating and issued a $13.00 price objective on shares of Retail Properties of America in a research report on Tuesday, August 29th. Finally, Citigroup Inc. restated a buy rating and set a $15.00 price target (down from $16.00) on shares of Retail Properties of America in a research report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $15.10.

Retail Properties of America (RPAI) opened at 13.42 on Wednesday. Retail Properties of America has a one year low of $11.61 and a one year high of $16.10. The stock has a market cap of $3.09 billion, a PE ratio of 16.99 and a beta of 0.44. The stock has a 50 day moving average price of $13.30 and a 200-day moving average price of $13.14.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.01. The company had revenue of $137.34 million during the quarter, compared to analyst estimates of $135.81 million. Retail Properties of America had a return on equity of 9.20% and a net margin of 34.57%. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts expect 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. Stockholders of record on Tuesday, September 26th were given a dividend of $0.1656 per share. The ex-dividend date was Monday, September 25th. This represents a $0.66 annualized dividend and a dividend yield of 4.94%. Retail Properties of America’s dividend payout ratio is currently 82.50%.

In other news, Director Gerald M. Gorski sold 4,790 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $13.59, for a total transaction 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 document filed with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nationwide Fund Advisors purchased a new position in shares of Retail Properties of America during the first quarter worth $162,000. Comerica Bank purchased a new position in shares of Retail Properties of America during the first quarter worth $156,000. Profund Advisors LLC purchased a new position in shares of Retail Properties of America during the second quarter worth $143,000. Brookstone Capital Management purchased a new position in shares of Retail Properties of America during the second quarter worth $146,000. Finally, Laurion Capital Management LP purchased a new position in shares of Retail Properties of America during the second quarter worth $153,000. Institutional investors and hedge funds 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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Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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