Analysts predict that Retail Properties of America Inc (NYSE:RPAI) will announce sales of $120.32 million for the current quarter, according to Zacks. Five analysts have made estimates for Retail Properties of America’s earnings, with the highest sales estimate coming in at $121.78 million and the lowest estimate coming in at $118.66 million. Retail Properties of America reported sales of $119.35 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, February 11th.
According to Zacks, analysts expect that Retail Properties of America will report full year sales of $479.98 million for the current year, with estimates ranging from $473.36 million to $483.03 million. For the next year, analysts forecast that the business will report sales of $490.99 million, with estimates ranging from $482.94 million to $497.86 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Retail Properties of America.
Retail Properties of America (NYSE:RPAI) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $119.71 million during the quarter, compared to analysts’ expectations of $118.71 million. Retail Properties of America had a return on equity of 2.17% and a net margin of 5.91%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share.
Several equities research analysts recently 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 objective for the company. ValuEngine raised Retail Properties of America from a “strong sell” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Zacks Investment Research raised Retail Properties of America from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $14.00.
In related news, Director Gerald M. Gorski sold 8,073 shares of Retail Properties of America stock in a transaction on Monday, August 26th. The stock was sold at an average price of $11.15, for a total transaction of $90,013.95. Following the completion of the sale, the director now owns 61,775 shares of the company’s stock, valued at $688,791.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. HGI Capital Management LLC increased its holdings in shares of Retail Properties of America by 164.4% in the third quarter. HGI Capital Management LLC now owns 281,816 shares of the real estate investment trust’s stock worth $3,472,000 after buying an additional 175,241 shares during the period. Tower Research Capital LLC TRC increased its holdings in Retail Properties of America by 369.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,003 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 7,873 shares during the period. Green Street Investors LLC purchased a new position in Retail Properties of America during the 3rd quarter valued at about $2,156,000. SG Americas Securities LLC increased its holdings in Retail Properties of America by 9.5% during the 3rd quarter. SG Americas Securities LLC now owns 104,932 shares of the real estate investment trust’s stock valued at $1,293,000 after purchasing an additional 9,064 shares during the period. Finally, First Trust Advisors LP increased its holdings in Retail Properties of America by 7.3% during the 3rd quarter. First Trust Advisors LP now owns 60,829 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 4,134 shares during the period. 82.21% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE RPAI traded down $0.03 during mid-day trading on Friday, hitting $13.97. The company had a trading volume of 990,497 shares, compared to its average volume of 2,187,291. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 9.48 and a beta of 0.52. Retail Properties of America has a 1 year low of $10.57 and a 1 year high of $14.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $13.16 and its 200-day moving average price is $12.24.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be paid a dividend of $0.166 per share. This represents a $0.66 annualized dividend and a yield of 4.75%. The ex-dividend date is Tuesday, December 24th. Retail Properties of America’s dividend payout ratio is 64.08%.
About Retail Properties of America
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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