Zacks Investment Research upgraded shares of Retail Properties of America (NYSE:RPAI) from a sell rating to a hold rating in a research note issued to investors on Friday.

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. “

Several other equities research analysts have also issued reports on RPAI. ValuEngine lowered shares of Retail Properties of America from a hold rating to a sell rating in a research report on Wednesday, May 2nd. Boenning Scattergood set a $16.00 target price on shares of Retail Properties of America and gave the company a buy rating in a research report on Thursday, May 3rd. JPMorgan Chase & Co. lowered shares of Retail Properties of America from an overweight rating to a neutral rating in a research report on Friday, June 15th. Finally, Jefferies Financial Group set a $13.00 target price on shares of Retail Properties of America and gave the company a hold rating in a research report on Tuesday, July 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Retail Properties of America currently has an average rating of Hold and a consensus target price of $15.36.

Retail Properties of America stock traded up $0.16 during mid-day trading on Friday, hitting $12.55. 1,435,798 shares of the company traded hands, compared to its average volume of 1,853,609. Retail Properties of America has a one year low of $10.84 and a one year high of $13.78. The firm has a market cap of $2.66 billion, a PE ratio of 11.84 and a beta of 0.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.02 and a quick ratio of 1.02.

Retail Properties of America (NYSE:RPAI) last announced its earnings results on Tuesday, July 31st. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.20). Retail Properties of America had a net margin of 39.61% and a return on equity of 10.31%. The company had revenue of $119.16 million for the quarter, compared to the consensus estimate of $120.92 million. research analysts anticipate that Retail Properties of America will post 1.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Tuesday, September 25th will be paid a dividend of $0.166 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Monday, September 24th. Retail Properties of America’s dividend payout ratio (DPR) is presently 62.26%.

Several hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new position in shares of Retail Properties of America during the second quarter worth approximately $425,000. HRT Financial LLC purchased a new position in shares of Retail Properties of America during the second quarter worth approximately $271,000. Millennium Management LLC raised its stake in shares of Retail Properties of America by 108.4% during the second quarter. Millennium Management LLC now owns 4,037,389 shares of the real estate investment trust’s stock worth $51,598,000 after acquiring an additional 2,099,864 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Retail Properties of America by 507.4% during the second quarter. Tower Research Capital LLC TRC now owns 22,965 shares of the real estate investment trust’s stock worth $294,000 after acquiring an additional 19,184 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Retail Properties of America during the second quarter worth approximately $980,000. 81.59% of the stock is currently owned by hedge funds and other institutional investors.

About Retail Properties of America

Retail Properties of America, Inc is a REIT that owns and operates high quality, strategically located shopping centers in the United States. As of March 31, 2018, the Company owned 106 retail operating properties representing 19.5 million square feet. The Company is publicly traded on the New York Stock Exchange under the ticker symbol RPAI.

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