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 report released on Wednesday, Zacks.com reports. The brokerage 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. “

Retail Properties of America stock opened at $12.59 on Wednesday. Retail Properties of America has a 1 year low of $10.57 and a 1 year high of $13.40. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $2.69 billion, a PE 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 data on Tuesday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.15). Retail Properties of America had a net margin of 12.30% and a return on equity of 3.30%. The firm had revenue of $122.70 million during the quarter, compared to analyst estimates of $121.77 million. During the same period in the prior year, the company earned $0.25 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Retail Properties of America will post 1.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Tuesday, June 25th will be issued a $0.1656 dividend. This represents a $0.66 annualized dividend 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 presently 64.08%.

Hedge funds have recently made changes to their positions in the stock. Resources Investment Advisors Inc. bought a new stake in Retail Properties of America in the first quarter valued at approximately $33,000. Marshall Wace North America L.P. bought a new stake in Retail Properties of America in the first quarter valued at approximately $33,000. Joseph P. Lucia & Associates LLC bought a new stake in Retail Properties of America in the first quarter valued at approximately $228,000. CWM LLC boosted its holdings in Retail Properties of America by 68.8% in the fourth quarter. CWM LLC now owns 3,697 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 1,507 shares during the last quarter. Finally, We Are One Seven LLC bought a new stake in Retail Properties of America in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 82.33% 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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Analyst Recommendations for Retail Properties of America (NYSE:RPAI)

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