Retail Properties of America, Inc. (RPAI) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System grew its position in shares of Retail Properties of America, Inc. (NYSE:RPAI) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 669,900 shares of the real estate investment trust’s stock after purchasing an additional 32,100 shares during the period. California Public Employees Retirement System owned about 0.29% of Retail Properties of America worth $8,179,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. ETRADE Capital Management LLC lifted its stake in Retail Properties of America by 5.9% during the second quarter. ETRADE Capital Management LLC now owns 47,009 shares of the real estate investment trust’s stock worth $574,000 after purchasing an additional 2,626 shares during the last quarter. Citigroup Inc. lifted its stake in Retail Properties of America by 35.1% during the second quarter. Citigroup Inc. now owns 1,402,156 shares of the real estate investment trust’s stock worth $17,120,000 after purchasing an additional 364,597 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Retail Properties of America during the second quarter worth about $1,322,000. UBS Asset Management Americas Inc. lifted its stake in Retail Properties of America by 5.3% during the second quarter. UBS Asset Management Americas Inc. now owns 547,507 shares of the real estate investment trust’s stock worth $6,685,000 after purchasing an additional 27,532 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Retail Properties of America by 0.8% during the second quarter. New York State Common Retirement Fund now owns 507,200 shares of the real estate investment trust’s stock worth $6,193,000 after purchasing an additional 3,999 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Gerald M. Gorski sold 4,790 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $13.59, for a total value of $65,096.10. Following the completion of the transaction, the director now owns 46,907 shares of the company’s stock, valued at approximately $637,466.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Several brokerages have issued reports on RPAI. BidaskClub raised Retail Properties of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 2nd. KeyCorp reaffirmed a “hold” rating on shares of Retail Properties of America in a research note on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $13.00 price target on shares of Retail Properties of America in a research note on Tuesday, August 29th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $15.00 price target (down previously from $16.00) on shares of Retail Properties of America in a research note on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $15.10.

Retail Properties of America, Inc. (NYSE RPAI) opened at 13.37 on Wednesday. Retail Properties of America, Inc. has a 12-month low of $11.61 and a 12-month high of $16.20. The stock has a market cap of $3.08 billion, a P/E ratio of 16.92 and a beta of 0.44. The stock has a 50 day moving average price of $13.29 and a 200 day moving average price of $13.15.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. Retail Properties of America had a net margin of 34.57% and a return on equity of 9.20%. The firm had revenue of $137.34 million during the quarter, compared to the consensus estimate of $135.81 million. During the same quarter last year, the firm earned $0.31 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, analysts forecast that Retail Properties of America, Inc. will post $0.51 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Tuesday, September 26th were issued a $0.1656 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.96%. The ex-dividend date of this dividend was Monday, September 25th. Retail Properties of America’s payout ratio is 82.50%.

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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.

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

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