Prudential Financial Inc. boosted its holdings in shares of Retail Properties of America Inc (NYSE:RPAI) by 69.2% during the second quarter, HoldingsChannel reports. The fund owned 488,000 shares of the real estate investment trust’s stock after purchasing an additional 199,550 shares during the quarter. Prudential Financial Inc.’s holdings in Retail Properties of America were worth $5,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of RPAI. Centersquare Investment Management LLC grew its holdings in Retail Properties of America by 41.1% during the 1st quarter. Centersquare Investment Management LLC now owns 7,616,426 shares of the real estate investment trust’s stock worth $92,844,000 after acquiring an additional 2,218,646 shares during the last quarter. LSV Asset Management grew its holdings in Retail Properties of America by 23.5% during the 1st quarter. LSV Asset Management now owns 1,939,800 shares of the real estate investment trust’s stock worth $23,646,000 after acquiring an additional 368,900 shares during the last quarter. HGI Capital Management LLC bought a new stake in Retail Properties of America during the 1st quarter worth approximately $3,285,000. Neuburgh Advisers LLC grew its holdings in Retail Properties of America by 113.5% during the 1st quarter. Neuburgh Advisers LLC now owns 384,880 shares of the real estate investment trust’s stock worth $4,692,000 after acquiring an additional 204,646 shares during the last quarter. Finally, Presima Inc. bought a new stake in Retail Properties of America during the 2nd quarter worth approximately $2,241,000. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

RPAI traded down $0.11 during trading on Thursday, reaching $12.01. 45,403 shares of the company’s stock were exchanged, compared to its average volume of 1,341,154. Retail Properties of America Inc has a one year low of $10.57 and a one year high of $13.33. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $2.58 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 8.13 and a beta of 0.52. The firm has a fifty day moving average price of $11.59 and a two-hundred day moving average price of $12.02.

Retail Properties of America (NYSE:RPAI) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.16). Retail Properties of America had a return on equity of 3.96% and a net margin of 14.46%. The business had revenue of $118.45 million for the quarter, compared to the consensus estimate of $119.22 million. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. Sell-side analysts expect that Retail Properties of America Inc will post 1.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be paid a $0.166 dividend. This is a positive change from Retail Properties of America’s previous quarterly dividend of $0.17. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Wednesday, September 25th. Retail Properties of America’s dividend payout ratio is currently 64.08%.

In other news, Director Gerald M. Gorski sold 8,073 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.15, for a total value of $90,013.95. Following the sale, the director now directly owns 61,775 shares of the company’s stock, valued at approximately $688,791.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.62% of the company’s stock.

A number of equities research analysts have weighed in on RPAI shares. Zacks Investment Research lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Thursday, May 30th. ValuEngine lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Monday, June 24th. Finally, Compass Point started coverage on shares of Retail Properties of America in a report on Thursday, August 15th. They set a “neutral” rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.80.

Retail Properties of America 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.

Featured Article: What is a Derivative?

Want to see what other hedge funds are holding RPAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Retail Properties of America Inc (NYSE:RPAI).

Institutional Ownership by Quarter for Retail Properties of America (NYSE:RPAI)

Receive News & Ratings for Retail Properties of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Retail Properties of America and related companies with MarketBeat.com's FREE daily email newsletter.