Retail Properties of America, Inc. (RPAI) Stake Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Retail Properties of America, Inc. (NYSE:RPAI) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,378,402 shares of the real estate investment trust’s stock after buying an additional 142,847 shares during the period. Renaissance Technologies LLC’s holdings in Retail Properties of America were worth $63,137,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RPAI. Vanguard Group Inc. raised its position in Retail Properties of America by 2.6% in the first quarter. Vanguard Group Inc. now owns 37,476,808 shares of the real estate investment trust’s stock worth $540,416,000 after buying an additional 943,974 shares during the period. AEW Capital Management L P raised its position in Retail Properties of America by 17.1% in the first quarter. AEW Capital Management L P now owns 5,689,800 shares of the real estate investment trust’s stock worth $82,047,000 after buying an additional 830,500 shares during the period. State Street Corp raised its position in Retail Properties of America by 6.3% in the fourth quarter. State Street Corp now owns 4,869,569 shares of the real estate investment trust’s stock worth $74,652,000 after buying an additional 289,503 shares during the period. V3 Capital Management L.P. raised its position in Retail Properties of America by 2.2% in the fourth quarter. V3 Capital Management L.P. now owns 4,289,981 shares of the real estate investment trust’s stock worth $65,765,000 after buying an additional 91,934 shares during the period. Finally, APG Asset Management US Inc. bought a new position in Retail Properties of America during the first quarter worth $47,615,000. 78.67% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

Retail Properties of America, Inc. (NYSE RPAI) traded down 5.163% during midday trading on Friday, hitting $12.215. The company had a trading volume of 2,938,695 shares. The stock has a 50 day moving average of $12.78 and a 200 day moving average of $14.37. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 29.014 and a beta of 0.48. Retail Properties of America, Inc. has a 52-week low of $12.06 and a 52-week high of $17.78.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Monday, June 26th will be issued a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.14%. The ex-dividend date of this dividend is Thursday, June 22nd. Retail Properties of America’s dividend payout ratio (DPR) is 153.49%.

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RPAI has been the topic of a number of research analyst reports. ValuEngine downgraded Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Citigroup Inc. restated a “buy” rating and issued a $16.00 target price (down previously from $18.00) on shares of Retail Properties of America in a research report on Tuesday, June 6th. Jefferies Group LLC lifted their target price on Retail Properties of America to $16.00 and gave the company a “hold” rating in a research report on Monday, June 5th. Zacks Investment Research downgraded Retail Properties of America from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, BidaskClub upgraded Retail Properties of America from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $16.75.

In other news, Director Richard P. Imperiale bought 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average cost of $12.61 per share, with a total value of $56,745.00. Following the transaction, the director now owns 37,602 shares of the company’s stock, valued at approximately $474,161.22. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Shane C. Garrison bought 2,050 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was purchased at an average cost of $12.67 per share, for a total transaction of $25,973.50. The disclosure for this purchase can be found here. Insiders have bought 10,450 shares of company stock worth $132,717 in the last 90 days. Insiders own 0.41% 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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