Retail Properties of America, Inc. (RPAI) Issues FY17 Earnings Guidance
Retail Properties of America, Inc. (NYSE:RPAI) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.00 to $1.05 for the period, compared to the Thomson Reuters consensus estimate of $0.96.
A number of research firms have commented on RPAI. BidaskClub upgraded Retail Properties of America from a hold rating to a buy rating in a research note on Wednesday. Citigroup Inc. reiterated a buy rating and set a $15.00 target price (down from $16.00) on shares of Retail Properties of America in a research report on Monday, July 10th. Jefferies Group LLC reiterated a hold rating and set a $13.00 target price on shares of Retail Properties of America in a research report on Tuesday, June 20th. ValuEngine downgraded Retail Properties of America from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Zacks Investment Research downgraded Retail Properties of America from a hold rating to a sell rating in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $16.08.
Shares of Retail Properties of America, Inc. (NYSE RPAI) traded down 1.42% on Friday, hitting $13.19. The company’s stock had a trading volume of 1,160,947 shares. Retail Properties of America, Inc. has a one year low of $11.61 and a one year high of $17.57. The stock has a 50-day moving average price of $12.79 and a 200 day moving average price of $13.66. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 16.70 and a beta of 0.47.
Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, topping the 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 company had revenue of $137.34 million during the quarter, compared to analysts’ expectations of $135.81 million. During the same period last year, the company posted $0.31 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts predict that Retail Properties of America, Inc. will post $0.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Tuesday, September 26th will be issued a $0.1656 dividend. This represents a $0.66 annualized dividend and a dividend yield of 5.02%. The ex-dividend date is Monday, September 25th. Retail Properties of America’s payout ratio is 82.50%.
In related news, COO Shane C. Garrison purchased 2,050 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average cost of $12.67 per share, for a total transaction of $25,973.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard P. Imperiale purchased 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were bought at an average price of $12.61 per share, with a total value of $56,745.00. Following the completion of the acquisition, the director now owns 37,602 shares of the company’s stock, valued at approximately $474,161.22. The disclosure for this purchase can be found here. Company insiders own 0.41% of the company’s stock.
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Retail Properties of America Company Profile
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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