Retail Properties of America (RPAI) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Retail Properties of America (NYSE:RPAI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $14.00 target price on the real estate investment trust’s stock.

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. “

RPAI traded up $0.07 during trading hours on Wednesday, hitting $12.71. The company’s stock had a trading volume of 14,179 shares, compared to its average volume of 1,486,645. Retail Properties of America has a fifty-two week low of $10.57 and a fifty-two week high of $13.40. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $2.67 billion, a P/E ratio of 12.31, a P/E/G ratio of 3.62 and a beta of 0.57.

Retail Properties of America (NYSE:RPAI) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.15). Retail Properties of America had a net margin of 12.30% and a return on equity of 3.30%. The business had revenue of $122.70 million during the quarter, compared to analyst estimates of $121.77 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. Equities analysts anticipate that Retail Properties of America will post 1.05 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 25th will be given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, June 24th. Retail Properties of America’s dividend payout ratio (DPR) is presently 64.08%.

Hedge funds have recently modified their holdings of the company. Resources Investment Advisors Inc. acquired a new stake in shares of Retail Properties of America in the first quarter worth $33,000. Marshall Wace North America L.P. bought a new position in Retail Properties of America during the first quarter valued at about $33,000. CWM LLC increased its stake in Retail Properties of America by 68.8% during the fourth quarter. CWM LLC now owns 3,697 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,507 shares during the period. We Are One Seven LLC acquired a new stake in Retail Properties of America during the fourth quarter valued at approximately $43,000. Finally, Pearl River Capital LLC acquired a new stake in Retail Properties of America during the fourth quarter valued at approximately $71,000. Institutional investors own 82.33% of the company’s stock.

Retail Properties of America Company Profile

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 December 31, 2018, the Company owned 105 retail operating properties in the United States representing 20.1 million square feet.

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Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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