Retail Properties of America, Inc. (NYSE:RPAI) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $16.70.
RPAI has been the topic of several research reports. Zacks Investment Research upgraded shares of Retail Properties of America from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday, March 2nd. BidaskClub upgraded shares of Retail Properties of America from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Jefferies Group LLC set a $16.00 price objective on shares of Retail Properties of America and gave the company a “hold” rating in a report on Saturday, March 25th. Citigroup Inc. reiterated a “buy” rating and set a $16.00 price objective (down previously from $18.00) on shares of Retail Properties of America in a report on Tuesday, June 6th. Finally, ValuEngine lowered shares of Retail Properties of America from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
In other news, COO Shane C. Garrison sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $25.56, for a total transaction of $25,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Sargeant bought 3,900 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were acquired at an average cost of $12.82 per share, with a total value of $49,998.00. Following the completion of the transaction, the director now owns 39,392 shares of the company’s stock, valued at $505,005.44. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 10,450 shares of company stock valued at $132,717. 0.40% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Paragon Capital Management Ltd acquired a new stake in Retail Properties of America during the first quarter valued at approximately $155,000. Comerica Bank acquired a new stake in Retail Properties of America during the first quarter valued at approximately $156,000. Nationwide Fund Advisors acquired a new stake in Retail Properties of America during the first quarter valued at approximately $162,000. AE Wealth Management LLC acquired a new stake in Retail Properties of America during the fourth quarter valued at approximately $167,000. Finally, Cigna Investments Inc. New acquired a new stake in Retail Properties of America during the fourth quarter valued at approximately $168,000. 78.61% of the stock is owned by institutional investors.
Retail Properties of America (NYSE:RPAI) traded down 1.07% during mid-day trading on Tuesday, hitting $12.05. 304,672 shares of the company were exchanged. The company has a market capitalization of $2.85 billion, a P/E ratio of 28.62 and a beta of 0.48. Retail Properties of America has a 12-month low of $12.03 and a 12-month high of $17.78. The company’s 50-day moving average is $12.70 and its 200 day moving average is $14.31.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Stockholders of record on Monday, June 26th will be given a dividend of $0.1656 per share. This represents a $0.66 annualized dividend and a dividend yield of 5.44%. The ex-dividend date is Thursday, June 22nd. Retail Properties of America’s payout ratio is presently 153.49%.
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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