Dimensional Fund Advisors LP raised its position in shares of Retail Properties of America, Inc. (NYSE:RPAI) by 1.2% during the first quarter, Holdings Channel reports. The institutional investor owned 3,221,570 shares of the real estate investment trust’s stock after buying an additional 37,016 shares during the period. Dimensional Fund Advisors LP’s holdings in Retail Properties of America were worth $46,454,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY boosted its position in Retail Properties of America by 1.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,817 shares of the real estate investment trust’s stock worth $304,000 after buying an additional 343 shares in the last quarter. AQR Capital Management LLC boosted its position in Retail Properties of America by 15.8% in the fourth quarter. AQR Capital Management LLC now owns 215,792 shares of the real estate investment trust’s stock worth $3,308,000 after buying an additional 29,437 shares in the last quarter. Norges Bank acquired a new position in Retail Properties of America during the fourth quarter worth approximately $32,068,000. Quadrature Capital Ltd acquired a new position in Retail Properties of America during the fourth quarter worth approximately $648,000. Finally, Teachers Advisors LLC boosted its position in Retail Properties of America by 38.1% in the fourth quarter. Teachers Advisors LLC now owns 322,089 shares of the real estate investment trust’s stock worth $4,938,000 after buying an additional 88,836 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.
Retail Properties of America, Inc. (NYSE:RPAI) opened at 12.73 on Wednesday. The firm’s 50-day moving average price is $12.35 and its 200-day moving average price is $13.87. The firm has a market capitalization of $3.01 billion, a PE ratio of 30.24 and a beta of 0.45. Retail Properties of America, Inc. has a 1-year low of $11.61 and a 1-year high of $17.78.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Monday, June 26th were paid a dividend of $0.1656 per share. The ex-dividend date of this dividend was Thursday, June 22nd. This represents a $0.66 annualized dividend and a dividend yield of 5.20%. Retail Properties of America’s dividend payout ratio is presently 153.49%.
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RPAI has been the topic of a number of recent analyst reports. Jefferies Group LLC set a $16.00 price objective on Retail Properties of America and gave the company a “hold” rating in a report on Saturday, March 25th. Zacks Investment Research cut Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. ValuEngine cut Retail Properties of America from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Citigroup Inc. reiterated a “buy” rating and issued a $16.00 price objective (down from $18.00) on shares of Retail Properties of America in a report on Tuesday, June 6th. Finally, BidaskClub upgraded Retail Properties of America from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Retail Properties of America currently has a consensus rating of “Hold” and an average target price of $16.08.
In related news, Director Richard P. Imperiale acquired 4,500 shares of the stock in a transaction dated Tuesday, May 16th. The stock was bought at an average cost of $12.61 per share, with a total value of $56,745.00. Following the purchase, the director now directly owns 37,602 shares of the company’s stock, valued at $474,161.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Shane C. Garrison sold 1,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $25.56, for a total transaction of $25,560.00. The disclosure for this sale can be found here. Insiders have bought a total of 10,450 shares of company stock valued at $132,717 over the last three months. Corporate insiders own 0.40% of the company’s stock.
Retail Properties of America Company Profile
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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