Dimensional Fund Advisors LP boosted its stake in shares of Retail Properties of America, Inc. (NYSE:RPAI) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned about 1.36% of Retail Properties of America worth $46,454,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Retail Properties of America by 2.6% in the first quarter. Vanguard Group Inc. now owns 37,476,808 shares of the real estate investment trust’s stock valued at $540,416,000 after buying an additional 943,974 shares during the period. AEW Capital Management L P raised its position in shares of Retail Properties of America by 17.1% in the first quarter. AEW Capital Management L P now owns 5,689,800 shares of the real estate investment trust’s stock valued at $82,047,000 after buying an additional 830,500 shares during the period. APG Asset Management US Inc. purchased a new position in shares of Retail Properties of America during the first quarter valued at about $47,615,000. Geode Capital Management LLC raised its position in shares of Retail Properties of America by 26.1% in the first quarter. Geode Capital Management LLC now owns 2,208,630 shares of the real estate investment trust’s stock valued at $31,848,000 after buying an additional 457,401 shares during the period. Finally, Norges Bank purchased a new position in shares of Retail Properties of America during the fourth quarter valued at about $32,068,000. 78.66% of the stock is owned by institutional investors.
Shares of Retail Properties of America, Inc. (NYSE RPAI) opened at 13.41 on Friday. The company has a 50-day moving average of $12.51 and a 200 day moving average of $13.77. Retail Properties of America, Inc. has a 52-week low of $11.61 and a 52-week high of $17.78. The company has a market capitalization of $3.17 billion, a PE ratio of 31.85 and a beta of 0.45.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Tuesday, September 26th will be issued a dividend of $0.1656 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Monday, September 25th. Retail Properties of America’s dividend payout ratio is currently 153.49%.
Several equities analysts have recently issued reports on RPAI shares. BidaskClub raised 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 reissued a “hold” rating and issued a $13.00 price target on shares of Retail Properties of America in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Retail Properties of America from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Citigroup Inc. reissued a “buy” rating and issued a $16.00 price target (down previously from $18.00) on shares of Retail Properties of America in a report on Tuesday, June 6th. Finally, ValuEngine cut shares of Retail Properties of America from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Retail Properties of America has a consensus rating of “Hold” and a consensus target price of $16.08.
In other news, Director Thomas J. Sargeant purchased 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The shares were bought 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 directly owns 39,392 shares of the company’s stock, valued at $505,005.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shane C. Garrison purchased 2,050 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average cost of $12.67 per share, for a total transaction of $25,973.50. The disclosure for this purchase can be found here. Insiders have bought 10,450 shares of company stock valued at $132,717 over the last quarter. Corporate insiders own 0.41% 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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