Retail Properties of America (RPAI) Price Target Cut to $14.50

Retail Properties of America (NYSE:RPAI) had its price objective decreased by investment analysts at Citigroup from $15.00 to $14.50 in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Citigroup’s target price would suggest a potential upside of 20.33% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Boenning Scattergood set a $19.00 target price on shares of Retail Properties of America and gave the stock a “buy” rating in a report on Thursday, February 15th. Robert W. Baird restated a “buy” rating and set a $18.00 target price on shares of Retail Properties of America in a report on Wednesday, November 1st. Zacks Investment Research cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. Jefferies Group set a $14.00 target price on shares of Retail Properties of America and gave the stock a “hold” rating in a report on Friday, December 15th. Finally, ValuEngine cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $15.93.

Retail Properties of America (RPAI) opened at $12.05 on Wednesday. Retail Properties of America has a 1-year low of $10.94 and a 1-year high of $15.81. The company has a market cap of $2,779.70, a price-to-earnings ratio of 11.59 and a beta of 0.32. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.93.

Retail Properties of America announced that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in Retail Properties of America by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 16,224 shares of the real estate investment trust’s stock valued at $198,000 after acquiring an additional 1,079 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Retail Properties of America by 11.6% in the third quarter. Pacer Advisors Inc. now owns 42,376 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 4,403 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Retail Properties of America by 60.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,668 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 4,403 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Retail Properties of America by 19.0% in the third quarter. Cubist Systematic Strategies LLC now owns 31,097 shares of the real estate investment trust’s stock valued at $408,000 after acquiring an additional 4,956 shares during the last quarter. Finally, Strs Ohio lifted its stake in Retail Properties of America by 1.7% in the fourth quarter. Strs Ohio now owns 295,714 shares of the real estate investment trust’s stock valued at $3,974,000 after acquiring an additional 5,019 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

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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.

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

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