Tyers Asset Management LLC trimmed its holdings in shares of Retail Properties of America Inc (NYSE:RPAI) by 55.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,198 shares of the real estate investment trust’s stock after selling 138,842 shares during the period. Tyers Asset Management LLC’s holdings in Retail Properties of America were worth $1,296,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Resources Investment Advisors Inc. acquired a new stake in shares of Retail Properties of America in the first quarter valued at about $33,000. Marshall Wace North America L.P. acquired a new position in shares of Retail Properties of America in the first quarter worth about $33,000. TRUE Private Wealth Advisors purchased a new position in shares of Retail Properties of America in the second quarter worth approximately $50,000. Advantage Investment Management LLC raised its holdings in shares of Retail Properties of America by 34.1% during the second quarter. Advantage Investment Management LLC now owns 4,970 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 1,264 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Retail Properties of America during the second quarter valued at approximately $125,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.
Retail Properties of America stock traded up $0.02 during mid-day trading on Wednesday, hitting $12.11. The company’s stock had a trading volume of 45,642 shares, compared to its average volume of 1,223,652. Retail Properties of America Inc has a 52-week low of $10.57 and a 52-week high of $13.33. The company has a market cap of $2.58 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 8.13 and a beta of 0.52. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50 day moving average is $11.58 and its 200 day moving average is $12.03.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be issued a dividend of $0.166 per share. This is a boost from Retail Properties of America’s previous quarterly dividend of $0.17. This represents a $0.66 annualized dividend and a dividend yield of 5.48%. The ex-dividend date is Wednesday, September 25th. Retail Properties of America’s dividend payout ratio (DPR) is currently 64.08%.
In related news, Director Gerald M. Gorski sold 8,073 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.15, for a total transaction of $90,013.95. Following the transaction, the director now directly owns 61,775 shares of the company’s stock, valued at $688,791.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.62% of the company’s stock.
RPAI has been the subject of a number of recent analyst reports. Compass Point assumed coverage on shares of Retail Properties of America in a research note on Thursday, August 15th. They issued a “neutral” rating and a $12.00 price objective for the company. Zacks Investment Research downgraded shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, ValuEngine downgraded shares of Retail Properties of America from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $13.80.
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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