Zacks Investment Research upgraded shares of Retail Properties of America (NYSE:RPAI) from a sell rating to a hold rating in a research report sent to investors on Friday.
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. “
A number of other analysts also recently issued reports on the company. ValuEngine downgraded Retail Properties of America from a hold rating to a sell rating in a report on Thursday, November 1st. JPMorgan Chase & Co. decreased their price target on Retail Properties of America from $13.50 to $13.00 and set a neutral rating for the company in a report on Thursday, September 27th. Deutsche Bank raised Retail Properties of America from a hold rating to a buy rating and set a $15.00 price target for the company in a report on Tuesday, August 28th. Finally, Jefferies Financial Group set a $13.00 price target on Retail Properties of America and gave the stock a hold rating in a report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Retail Properties of America currently has a consensus rating of Hold and an average price target of $14.58.
RPAI traded down $0.03 on Friday, hitting $12.30. 694,771 shares of the company were exchanged, compared to its average volume of 1,925,316. Retail Properties of America has a twelve month low of $10.84 and a twelve month high of $13.60. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 11.60 and a beta of 0.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.92 and a quick ratio of 0.92.
Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.19). Retail Properties of America had a return on equity of 9.39% and a net margin of 35.82%. The company had revenue of $119.14 million for the quarter, compared to analyst estimates of $118.41 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, research analysts anticipate that Retail Properties of America will post 1.01 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Thursday, December 27th will be issued a dividend of $0.166 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend is Wednesday, December 26th. Retail Properties of America’s dividend payout ratio (DPR) is 62.26%.
In other Retail Properties of America news, Director Gerald M. Gorski sold 3,962 shares of Retail Properties of America stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $12.61, for a total transaction of $49,960.82. Following the completion of the sale, the director now directly owns 55,129 shares of the company’s stock, valued at approximately $695,176.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in RPAI. SJA Financial Advisory LLC purchased a new stake in shares of Retail Properties of America in the 3rd quarter valued at about $122,000. Commonwealth Bank of Australia lifted its holdings in shares of Retail Properties of America by 67.2% in the 2nd quarter. Commonwealth Bank of Australia now owns 10,366 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 4,166 shares during the last quarter. MML Investors Services LLC purchased a new stake in shares of Retail Properties of America in the 3rd quarter valued at about $129,000. RFG Advisory Group LLC purchased a new stake in shares of Retail Properties of America in the 2nd quarter valued at about $143,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Retail Properties of America in the 3rd quarter valued at about $138,000. 81.94% of the stock is owned by institutional investors.
About Retail Properties of America
Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located open-air shopping centers, including properties with a mixed-use component. As of June 30, 2018, the Company owned 105 retail operating properties in the United States representing 19.5 million square feet.
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