Teachers Insurance & Annuity Association of America Trims Holdings in Retail Properties of America Inc (NYSE:RPAI)

Teachers Insurance & Annuity Association of America cut its stake in Retail Properties of America Inc (NYSE:RPAI) by 61.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 77,147 shares of the real estate investment trust’s stock after selling 122,955 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Retail Properties of America were worth $907,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank boosted its stake in Retail Properties of America by 10.2% during the first quarter. Comerica Bank now owns 26,204 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 2,428 shares during the period. Raymond James & Associates boosted its stake in Retail Properties of America by 4.0% during the first quarter. Raymond James & Associates now owns 219,650 shares of the real estate investment trust’s stock valued at $2,678,000 after buying an additional 8,502 shares during the period. Independent Advisor Alliance lifted its stake in Retail Properties of America by 24.1% during the first quarter. Independent Advisor Alliance now owns 17,569 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 3,411 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Retail Properties of America during the first quarter worth about $831,000. Finally, LSV Asset Management lifted its stake in Retail Properties of America by 23.5% during the first quarter. LSV Asset Management now owns 1,939,800 shares of the real estate investment trust’s stock worth $23,646,000 after purchasing an additional 368,900 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.

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

Shares of RPAI traded down $0.12 during trading hours on Thursday, hitting $12.00. The company had a trading volume of 1,809,335 shares, compared to its average volume of 1,343,814. The firm has a market cap of $2.58 billion, a P/E ratio of 11.65, a P/E/G ratio of 8.13 and a beta of 0.52. The stock’s 50 day moving average price is $11.59 and its 200 day moving average price is $12.02. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.01. Retail Properties of America Inc has a 52-week low of $10.57 and a 52-week high of $13.33.

Retail Properties of America (NYSE:RPAI) last released its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.16). The company had revenue of $118.45 million during the quarter, compared to analysts’ expectations of $119.22 million. Retail Properties of America had a return on equity of 3.96% and a net margin of 14.46%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, research analysts expect 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 Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $0.166 dividend. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.66 annualized dividend and a dividend yield of 5.53%. This is an increase from Retail Properties of America’s previous quarterly dividend of $0.17. Retail Properties of America’s payout ratio is currently 64.08%.

In other news, Director Gerald M. Gorski sold 8,073 shares of Retail Properties of America stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $11.15, for a total value of $90,013.95. Following the transaction, the director now owns 61,775 shares in the company, valued at $688,791.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.62% of the stock is currently owned by insiders.

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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