Retail Properties of America (RPAI) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Retail Properties of America (NYSE:RPAI) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $14.00 price target on the real estate investment trust’s stock.

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. “

Shares of RPAI opened at $12.59 on Wednesday. Retail Properties of America has a 12-month low of $10.57 and a 12-month high of $13.40. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $2.69 billion, a P/E ratio of 12.22, a PEG ratio of 3.64 and a beta of 0.57.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.15). The company had revenue of $122.70 million during the quarter, compared to analysts’ expectations of $121.77 million. Retail Properties of America had a net margin of 12.30% and a return on equity of 3.30%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. As a group, sell-side analysts forecast that Retail Properties of America will post 1.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 25th will be given a $0.1656 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Monday, June 24th. Retail Properties of America’s payout ratio is currently 64.08%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlueCrest Capital Management Ltd raised its position in Retail Properties of America by 86.5% in the 1st quarter. BlueCrest Capital Management Ltd now owns 31,063 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 14,403 shares during the last quarter. HighTower Advisors LLC raised its position in Retail Properties of America by 9.1% in the 1st quarter. HighTower Advisors LLC now owns 13,760 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 1,142 shares during the last quarter. Zimmer Partners LP purchased a new stake in Retail Properties of America in the 1st quarter valued at $3,657,000. Ladenburg Thalmann Financial Services Inc. raised its position in Retail Properties of America by 3.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 91,928 shares of the real estate investment trust’s stock valued at $1,121,000 after buying an additional 2,986 shares during the last quarter. Finally, Morgan Stanley raised its position in Retail Properties of America by 79.7% in the 1st quarter. Morgan Stanley now owns 300,717 shares of the real estate investment trust’s stock valued at $3,666,000 after buying an additional 133,377 shares during the last quarter. 82.33% of the stock is owned by institutional investors and hedge funds.

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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