Chartwell Investment Partners LLC raised its stake in Retail Properties of America Inc (NYSE:RPAI) by 261.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 779,816 shares of the real estate investment trust’s stock after buying an additional 564,218 shares during the period. Chartwell Investment Partners LLC owned about 0.37% of Retail Properties of America worth $9,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its stake in Retail Properties of America by 7.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 35,716 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 2,478 shares in the last quarter. Bank of America Corp DE increased its stake in Retail Properties of America by 3.0% during the 4th quarter. Bank of America Corp DE now owns 1,564,049 shares of the real estate investment trust’s stock valued at $16,969,000 after purchasing an additional 44,994 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Retail Properties of America during the 4th quarter valued at approximately $1,032,000. JPMorgan Chase & Co. increased its stake in Retail Properties of America by 58.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,587,848 shares of the real estate investment trust’s stock valued at $55,926,000 after purchasing an additional 1,687,591 shares in the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Retail Properties of America by 1,176.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 13,462 shares of the real estate investment trust’s stock valued at $1,104,000 after acquiring an additional 12,407 shares during the last quarter. 83.54% of the stock is owned by institutional investors.
NYSE RPAI traded up $0.11 during mid-day trading on Friday, reaching $12.74. 1,147,551 shares of the stock were exchanged, compared to its average volume of 1,542,158. Retail Properties of America Inc has a 1 year low of $10.57 and a 1 year high of $13.40. The company has a market capitalization of $2.72 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 3.56 and a beta of 0.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.79 and a current ratio of 0.79.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 25th will be issued a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Monday, June 24th. Retail Properties of America’s dividend payout ratio (DPR) is presently 64.08%.
Separately, Zacks Investment Research raised shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $14.17.
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About Retail Properties of America
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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