Retail Properties of America, Inc. (RPAI) Upgraded by KeyCorp to “Overweight”

Retail Properties of America, Inc. (NYSE:RPAI) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued to investors on Monday. The firm presently has a $16.00 target price on the real estate investment trust’s stock. KeyCorp’s price target points to a potential upside of 22.42% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. BidaskClub lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Friday, October 27th. Jefferies Group LLC reissued a “hold” rating and issued a $13.00 target price on shares of Retail Properties of America in a report on Tuesday, August 29th. Robert W. Baird reissued a “buy” rating and issued a $18.00 target price on shares of Retail Properties of America in a report on Wednesday, November 1st. Finally, Boenning Scattergood reissued a “buy” rating and issued a $18.50 target price on shares of Retail Properties of America in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Retail Properties of America presently has an average rating of “Hold” and an average target price of $16.00.

Retail Properties of America (NYSE:RPAI) traded up $0.09 during trading on Monday, reaching $13.07. 1,749,900 shares of the company traded hands, compared to its average volume of 1,758,942. The stock has a market cap of $2,968.20, a price-to-earnings ratio of 12.33 and a beta of 0.48. Retail Properties of America has a one year low of $11.61 and a one year high of $15.81. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84.

Retail Properties of America (NYSE:RPAI) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. The company had revenue of $130.52 million during the quarter, compared to analyst estimates of $132.45 million. Retail Properties of America had a net margin of 28.84% and a return on equity of 7.61%. The firm’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.27 EPS. analysts predict that Retail Properties of America will post 1.04 EPS for the current fiscal year.

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In other Retail Properties of America news, Director Gerald M. Gorski sold 4,790 shares of the 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 of the company’s stock, valued at approximately $637,466.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.40% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barings LLC bought a new position in shares of Retail Properties of America during the 3rd quarter valued at approximately $16,933,000. Numeric Investors LLC boosted its position in shares of Retail Properties of America by 10,872.3% during the 2nd quarter. Numeric Investors LLC now owns 1,108,199 shares of the real estate investment trust’s stock valued at $13,531,000 after acquiring an additional 1,098,099 shares during the last quarter. Balyasny Asset Management LLC boosted its position in shares of Retail Properties of America by 135.1% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,493,991 shares of the real estate investment trust’s stock valued at $18,242,000 after acquiring an additional 858,409 shares during the last quarter. LSV Asset Management boosted its position in shares of Retail Properties of America by 81.8% during the 2nd quarter. LSV Asset Management now owns 1,599,700 shares of the real estate investment trust’s stock valued at $19,532,000 after acquiring an additional 719,900 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Retail Properties of America by 48.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,069,557 shares of the real estate investment trust’s stock valued at $25,306,000 after acquiring an additional 672,491 shares during the last quarter. 80.19% of the stock is owned by institutional investors and hedge funds.

About Retail Properties of America

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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