Legg Mason Asset Management Japan Co. Ltd. decreased its stake in Retail Properties of America Inc (NYSE:RPAI) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,800 shares of the real estate investment trust’s stock after selling 2,800 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Retail Properties of America were worth $671,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. CWM LLC boosted its stake 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 worth $40,000 after purchasing an additional 1,507 shares in the last quarter. We Are One Seven LLC acquired a new position in Retail Properties of America in the fourth quarter worth $43,000. Pearl River Capital LLC acquired a new position in Retail Properties of America in the fourth quarter worth $71,000. MML Investors Services LLC acquired a new position in Retail Properties of America in the third quarter worth $129,000. Finally, Chicago Equity Partners LLC acquired a new position in Retail Properties of America in the fourth quarter worth $133,000. 82.73% of the stock is currently owned by institutional investors and hedge funds.

RPAI has been the topic of several research reports. ValuEngine raised Retail Properties of America from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Zacks Investment Research lowered Retail Properties of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Citigroup set a $15.00 price target on Retail Properties of America and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, KeyCorp set a $15.00 price target on Retail Properties of America and gave the company a “buy” rating in a research note on Thursday, December 20th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Retail Properties of America currently has a consensus rating of “Buy” and a consensus target price of $14.29.

Shares of RPAI opened at $12.08 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.93. Retail Properties of America Inc has a 12-month low of $10.57 and a 12-month high of $13.40. The firm has a market cap of $2.58 billion, a PE ratio of 11.73, a PEG ratio of 5.31 and a beta of 0.58.

Retail Properties of America (NYSE:RPAI) last issued its quarterly earnings results on Tuesday, February 12th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.01. Retail Properties of America had a return on equity of 4.24% and a net margin of 16.09%. The business had revenue of $119.30 million for the quarter, compared to analyst estimates of $119.77 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. Research analysts anticipate that Retail Properties of America Inc will post 1.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Wednesday, March 27th will be issued a $0.1656 dividend. The ex-dividend date of this dividend is Tuesday, March 26th. This represents a $0.66 dividend on an annualized basis and a yield of 5.48%. Retail Properties of America’s dividend payout ratio is presently 64.08%.

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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.

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

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