Zacks Investment Research cut shares of Retail Properties of America (NYSE:RPAI) from a buy rating to a hold rating in a research report released on Saturday morning.

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 research analysts also recently issued reports on the stock. KeyCorp set a $15.00 target price on shares of Retail Properties of America and gave the company a buy rating in a research report on Thursday, December 20th. ValuEngine upgraded shares of Retail Properties of America from a sell rating to a hold rating in a research report on Saturday, December 1st. Finally, Citigroup set a $15.00 target price on shares of Retail Properties of America and gave the company a buy rating in a research report on Tuesday, November 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $14.29.

Shares of RPAI opened at $12.08 on Friday. The firm has a market cap of $2.58 billion, a PE ratio of 11.73, a P/E/G ratio of 5.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.79 and a current ratio of 0.79. Retail Properties of America has a 1-year low of $10.57 and a 1-year high of $13.40.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, February 12th. The real estate investment trust reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $119.30 million for the quarter, compared to analyst estimates of $119.77 million. Retail Properties of America had a net margin of 16.09% and a return on equity of 4.24%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Sell-side analysts anticipate that Retail Properties of America will post 1.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Wednesday, March 27th will be given a $0.1656 dividend. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.48%. Retail Properties of America’s dividend payout ratio (DPR) is currently 64.08%.

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Retail Properties of America by 5.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,480,918 shares of the real estate investment trust’s stock worth $44,486,000 after purchasing an additional 190,152 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Retail Properties of America during the 3rd quarter worth about $286,000. Private Advisor Group LLC acquired a new position in shares of Retail Properties of America during the 3rd quarter worth about $138,000. Wells Fargo & Company MN raised its position in shares of Retail Properties of America by 26.5% during the 3rd quarter. Wells Fargo & Company MN now owns 471,639 shares of the real estate investment trust’s stock worth $5,749,000 after purchasing an additional 98,685 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Retail Properties of America during the 3rd quarter worth about $2,465,000. Institutional investors and hedge funds own 82.73% 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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