Retail Properties of America Inc (NYSE:RPAI) – Research analysts at Boenning Scattergood raised their Q1 2018 earnings per share (EPS) estimates for shares of Retail Properties of America in a note issued to investors on Thursday, Zacks Investment Research reports. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will earn $0.25 per share for the quarter, up from their previous forecast of $0.24. Boenning Scattergood has a “Buy” rating and a $19.00 price objective on the stock.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. KeyCorp upgraded Retail Properties of America from a “sector weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a research note on Monday, November 20th. ValuEngine cut Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. JPMorgan Chase & Co. raised Retail Properties of America from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Friday, December 15th. Finally, Jefferies Group set a $14.00 target price on Retail Properties of America and gave the company a “hold” rating in a report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.79.
Shares of Retail Properties of America (NYSE:RPAI) traded down $0.03 during trading hours on Monday, hitting $11.83. The stock had a trading volume of 1,132,482 shares, compared to its average volume of 2,213,408. Retail Properties of America has a twelve month low of $10.94 and a twelve month high of $14.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $2,600.00, a P/E ratio of 11.38 and a beta of 0.31.
Retail Properties of America announced that its Board of Directors has approved a share repurchase plan on Thursday, December 14th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Tuesday, March 27th will be given a $0.1656 dividend. The ex-dividend date is Monday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.60%. Retail Properties of America’s dividend payout ratio (DPR) is 63.46%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC acquired a new stake in Retail Properties of America in the third quarter worth approximately $135,000. Certified Advisory Corp acquired a new stake in Retail Properties of America in the fourth quarter worth approximately $142,000. Stratos Wealth Partners LTD. acquired a new stake in shares of Retail Properties of America during the 3rd quarter valued at $148,000. Public Employees Retirement Association of Colorado lifted its position in shares of Retail Properties of America by 60.6% during the 4th 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. Finally, Wolverine Trading LLC acquired a new stake in shares of Retail Properties of America during the 3rd quarter valued at $186,000. Hedge funds and other institutional investors own 81.22% 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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