Retail Properties of America, Inc. (RPAI) Stock Rating Upgraded by Zacks Investment Research

Retail Properties of America, Inc. (NYSE:RPAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $15.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.44% from the stock’s previous close.

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. “

Several other analysts have also recently issued reports on RPAI. BidaskClub upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 9th. KeyCorp restated a “hold” rating on shares of Retail Properties of America in a research report on Friday, August 25th. Jefferies Group LLC restated a “hold” rating and set a $13.00 target price on shares of Retail Properties of America in a research report on Tuesday, August 29th. Finally, Citigroup Inc. restated 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. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $15.10.

Shares of Retail Properties of America (NYSE RPAI) traded up 0.97% during midday trading on Wednesday, hitting $13.47. The company had a trading volume of 796,083 shares. The firm has a market capitalization of $3.10 billion, a P/E ratio of 17.05 and a beta of 0.44. The stock has a 50 day moving average price of $13.30 and a 200 day moving average price of $13.16. Retail Properties of America has a 1-year low of $11.61 and a 1-year high of $16.17.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.27 EPS for the quarter, beating 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 business had revenue of $137.34 million during the quarter, compared to the consensus estimate of $135.81 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue was down 6.7% on a year-over-year basis. On average, equities analysts anticipate that Retail Properties of America will post $0.51 EPS for the current fiscal year.

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In other news, Director Gerald M. Gorski sold 4,790 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $13.59, for a total transaction of $65,096.10. Following the sale, the director now directly owns 46,907 shares in the company, valued at approximately $637,466.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. MPS Loria Financial Planners LLC purchased a new stake in Retail Properties of America in the 2nd quarter worth about $249,000. Cetera Investment Advisers purchased a new stake in Retail Properties of America in the 2nd quarter worth about $179,000. Dynamic Technology Lab Private Ltd purchased a new stake in Retail Properties of America in the 2nd quarter worth about $372,000. Colony Group LLC raised its position in Retail Properties of America by 2.3% in the 2nd quarter. Colony Group LLC now owns 133,796 shares of the real estate investment trust’s stock worth $1,634,000 after purchasing an additional 2,992 shares during the period. Finally, Verition Fund Management LLC raised its position in Retail Properties of America by 75.6% in the 2nd quarter. Verition Fund Management LLC now owns 39,435 shares of the real estate investment trust’s stock worth $482,000 after purchasing an additional 16,977 shares during the period. 78.91% of the stock is currently owned by institutional investors.

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.

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

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