Retail Properties of America (NYSE:RPAI) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Retail Properties of America (NYSE:RPAI) from a buy rating to a hold rating in a research note published on Friday, Zacks.com reports.

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 equities analysts also recently weighed in on RPAI. ValuEngine raised shares of Retail Properties of America from a strong sell rating to a sell rating in a research note on Friday, October 25th. Compass Point assumed coverage on shares of Retail Properties of America in a report on Thursday, August 15th. They issued a neutral rating and a $12.00 target price on the stock.

NYSE:RPAI opened at $13.89 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of 13.49, a P/E/G ratio of 9.40 and a beta of 0.53. The company has a 50 day simple moving average of $13.76 and a two-hundred day simple moving average of $12.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.89 and a current ratio of 0.89. Retail Properties of America has a fifty-two week low of $10.57 and a fifty-two week high of $14.30.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. Retail Properties of America had a net margin of 5.91% and a return on equity of 2.17%. The firm had revenue of $119.71 million for the quarter, compared to the consensus estimate of $118.71 million. During the same quarter in the previous year, the company earned $0.25 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts predict that Retail Properties of America will post 1.06 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 26th will be paid a $0.166 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Tuesday, December 24th. Retail Properties of America’s dividend payout ratio is 64.08%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace North America L.P. bought a new stake in Retail Properties of America in the first quarter valued at $33,000. TRUE Private Wealth Advisors bought a new stake in Retail Properties of America in the 2nd quarter valued at about $50,000. Advantage Investment Management LLC raised its stake in Retail Properties of America by 34.1% during the 2nd quarter. Advantage Investment Management LLC now owns 4,970 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 1,264 shares during the period. HM Payson & Co. acquired a new position in Retail Properties of America during the 2nd quarter worth approximately $62,000. Finally, Point72 Hong Kong Ltd raised its stake in Retail Properties of America by 14.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 7,358 shares of the real estate investment trust’s stock worth $87,000 after buying an additional 951 shares during the period. 86.96% of the stock is currently owned by hedge funds and other institutional investors.

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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