Retail Properties of America, Inc. (RPAI) Updates FY17 Earnings Guidance
Retail Properties of America, Inc. (NYSE:RPAI) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.03-1.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.01.
Several research firms recently weighed in on RPAI. Zacks Investment Research downgraded Retail Properties of America from a buy rating to a hold rating in a research note on Wednesday, October 25th. Citigroup Inc. restated a buy rating and issued 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. BidaskClub downgraded Retail Properties of America from a hold rating to a sell rating in a research note on Friday. Jefferies Group LLC restated a hold rating and issued a $13.00 price target on shares of Retail Properties of America in a research note on Tuesday, August 29th. Finally, KeyCorp restated a hold rating on shares of Retail Properties of America in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Retail Properties of America presently has a consensus rating of Hold and an average target price of $15.10.
Shares of Retail Properties of America, Inc. (NYSE:RPAI) traded down 0.16% during mid-day trading on Tuesday, reaching $12.22. The company’s stock had a trading volume of 1,399,542 shares. Retail Properties of America, Inc. has a one year low of $11.61 and a one year high of $15.81. The firm’s 50 day moving average is $13.13 and its 200 day moving average is $13.01. The firm has a market cap of $2.82 billion, a PE ratio of 15.47 and a beta of 0.44.
Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm earned $0.31 earnings per share. Retail Properties of America’s revenue was down 6.7% compared to the same quarter last year. On average, equities analysts anticipate that Retail Properties of America, Inc. will post $0.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Wednesday, December 27th will be issued a $0.1656 dividend. The ex-dividend date is Friday, December 22nd. This represents a $0.66 dividend on an annualized basis and a yield of 5.42%. Retail Properties of America’s payout ratio is 82.50%.
In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $13.59, for a total transaction of $65,096.10. Following the completion of the sale, the director now directly owns 46,907 shares in the company, valued at $637,466.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is owned by insiders.
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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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