FY2018 EPS Estimates for Retail Properties of America Inc (RPAI) Lifted by KeyCorp

Retail Properties of America Inc (NYSE:RPAI) – KeyCorp boosted their FY2018 earnings estimates for shares of Retail Properties of America in a research note issued to investors on Tuesday, Zacks Investment Research reports. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings of $1.06 per share for the year, up from their prior forecast of $1.05. KeyCorp currently has a “Overweight” rating and a $16.00 target price on the stock. KeyCorp also issued estimates for Retail Properties of America’s FY2019 earnings at $1.12 EPS.

Other research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Retail Properties of America from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 16th. Zacks Investment Research raised shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, October 11th. 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, November 1st. Boenning Scattergood reaffirmed 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. Finally, JPMorgan Chase & Co. raised shares of 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.93.

Retail Properties of America (NYSE:RPAI) opened at $12.38 on Thursday. The stock has a market cap of $2,810.00, a PE ratio of 19.34 and a beta of 0.50. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. Retail Properties of America has a 1-year low of $11.61 and a 1-year high of $15.81.

Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $130.52 million for the quarter, compared to analyst estimates of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.61%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 EPS.

A number of institutional investors and hedge funds have recently bought and sold shares of RPAI. Barings LLC acquired a new stake in Retail Properties of America during the 3rd quarter worth approximately $16,933,000. Numeric Investors LLC increased its position in Retail Properties of America by 10,872.3% during the 2nd quarter. Numeric Investors LLC now owns 1,108,199 shares of the real estate investment trust’s stock worth $13,531,000 after purchasing an additional 1,098,099 shares in the last quarter. Balyasny Asset Management LLC increased its position in Retail Properties of America by 135.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,493,991 shares of the real estate investment trust’s stock worth $18,242,000 after purchasing an additional 858,409 shares in the last quarter. LSV Asset Management increased 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 worth $19,532,000 after purchasing an additional 719,900 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Retail Properties of America by 1,668.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 651,843 shares of the real estate investment trust’s stock worth $7,959,000 after purchasing an additional 614,988 shares in the last quarter. 79.13% of the stock is owned by hedge funds and other institutional investors.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Wednesday, December 27th were given a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date was Friday, December 22nd. Retail Properties of America’s dividend payout ratio (DPR) is presently 103.13%.

Retail Properties of America announced that its board has initiated a share buyback program on Thursday, December 14th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

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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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Earnings History and Estimates for Retail Properties of America (NYSE:RPAI)

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