Retail Properties of America (NYSE:RPAI) declared that its board has authorized a stock repurchase plan, which permits the company to repurchase $250.00 million in shares on Thursday, December 14th, EventVestor reports. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several equities analysts have weighed in on RPAI shares. Boenning Scattergood reaffirmed a “buy” rating and issued a $18.50 target price on shares of Retail Properties of America in a research report on Thursday, November 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $18.00 target price on shares of Retail Properties of America in a research report on Wednesday, November 1st. Zacks Investment Research raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, October 11th. BidaskClub downgraded Retail Properties of America from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 16th. Finally, Jefferies Group reaffirmed a “hold” rating and issued a $13.00 target price on shares of Retail Properties of America in a research report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.00.

Retail Properties of America (NYSE RPAI) traded down $0.07 during midday trading on Friday, reaching $13.06. The company’s stock had a trading volume of 1,440,300 shares, compared to its average volume of 1,755,801. The firm has a market cap of $2,981.82, a P/E ratio of 12.39 and a beta of 0.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. Retail Properties of America has a 52 week low of $11.61 and a 52 week high of $15.81.

Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. Retail Properties of America had a return on equity of 7.61% and a net margin of 28.84%. The business had revenue of $130.52 million during the quarter, compared to the consensus estimate of $132.45 million. During the same period in the previous year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. sell-side analysts anticipate that Retail Properties of America will post 1.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, December 22nd. Retail Properties of America’s dividend payout ratio is presently 101.54%.

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About Retail Properties of America

Retail Properties of America, Inc is a real estate investment trust (REIT). The Company owns and operates shopping centers located in the United States. As of December 31, 2016, it owned 156 retail operating properties representing 25,832,000 square feet of gross leasable area (GLA). Its retail operating portfolio includes neighborhood and community centers, power centers, and lifestyle centers and multi-tenant retail-focused mixed-use properties, as well as single-user retail properties.

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