Zacks Investment Research Lowers Retail Properties of America Inc (RPAI) to Hold

Zacks Investment Research downgraded shares of Retail Properties of America Inc (NYSE:RPAI) from a buy rating to a hold rating in a report released on Wednesday morning.

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 brokerages have also issued reports on RPAI. Deutsche Bank AG lowered shares of Retail Properties of America from a buy rating to a hold rating and cut their price target for the company from $18.00 to $16.00 in a research note on Monday, January 9th. TheStreet lowered shares of Retail Properties of America from a b- rating to a c+ rating in a research note on Friday, February 17th. Finally, JPMorgan Chase & Co. upgraded shares of Retail Properties of America from an underweight rating to a neutral rating and set a $16.50 price target on the stock in a research note on Friday, December 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $17.71.

Shares of Retail Properties of America (NYSE:RPAI) opened at 14.64 on Wednesday. The company has a market capitalization of $3.46 billion, a P/E ratio of 22.18 and a beta of 0.42. Retail Properties of America has a 12 month low of $13.88 and a 12 month high of $17.78. The stock’s 50 day moving average is $14.95 and its 200 day moving average is $15.51.

Retail Properties of America (NYSE:RPAI) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.01 by $0.24. Retail Properties of America had a net margin of 25.71% and a return on equity of 7.01%. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities analysts predict that Retail Properties of America will post ($0.01) EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Monday, March 27th will be paid a dividend of $0.1656 per share. The ex-dividend date is Thursday, March 23rd. This represents a $0.66 dividend on an annualized basis and a yield of 4.53%. Retail Properties of America’s payout ratio is 110.00%.

A number of hedge funds and other institutional investors have recently modified their holdings of RPAI. Lasalle Investment Management Securities LLC raised its position in shares of Retail Properties of America by 6.2% in the third quarter. Lasalle Investment Management Securities LLC now owns 8,812,895 shares of the company’s stock worth $148,057,000 after buying an additional 510,593 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Retail Properties of America by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,303,938 shares of the company’s stock worth $139,506,000 after buying an additional 139,379 shares during the last quarter. Shinko Asset Management Co. Ltd. raised its position in shares of Retail Properties of America by 32.9% in the third quarter. Shinko Asset Management Co. Ltd. now owns 6,283,582 shares of the company’s stock worth $105,564,000 after buying an additional 1,557,245 shares during the last quarter. State Street Corp raised its position in shares of Retail Properties of America by 6.3% in the fourth quarter. State Street Corp now owns 4,869,569 shares of the company’s stock worth $74,652,000 after buying an additional 289,503 shares during the last quarter. Finally, V3 Capital Management L.P. raised its position in shares of Retail Properties of America by 2.2% in the fourth quarter. V3 Capital Management L.P. now owns 4,289,981 shares of the company’s stock worth $65,765,000 after buying an additional 91,934 shares during the last quarter. Institutional investors and hedge funds own 78.55% 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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